More and more expensive iPhones which last longer, an increasingly competitive smartphone segment, and shakiness in the Chinese market have helped sent Apple’s stock price plummeting today. The Cupertino firm issued a rare warning yesterday that its profits for Q1 2019 would be lower than expected, blaming fewer than expected sales of its star product as one of the key reasons.
As Tim Cook said in an open letter to investors yesterday, “we knew the first quarter would be impacted by both macroeconomic and Apple-specific factors.” Timing of the iPhone XS launch would be one issue, as would supply constraints of its popular products. That particularly impacted the Apple Watch Series 4, iPad Pro, AirPods, and MacBook Air, Cook explained.
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