Apple Says Cheap Battery Swaps To Blame For Wonky Sales

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Weak iPhone demand forces Apple to cut revenue forecasts

When compared to the estimates provided by Apple to its investors in November, the revenue amount took a drastic nosedive, while the "other income/(expense)" category went through the roof, reaching approximately $550 million from an initial estimate of $300 million.

Both of these numbers may sound positive; however, Cook's original estimate from about 60 days ago now was that Apple could earn as much as $93 billion in the quarter.

What's interesting is that China is attributed as the main source of year-on-year iPhone revenue decline while iPhone upgrades were not as strong as they hoped for in some developed markets. "Most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad".

Apple blamed slow iPhone sales-especially in China-as well as fewer-than-expected iPhone upgrades for the shortfall. This is also the fourth quarter of the year for 2018 - but, again, the first financial quarter for Apple for 2019.

With that information, it's safe to assume that a fair number of Apple products were bought in Malaysia during the 11.11 Singles Day shopping festival.

However, he admitted that sales in more mature economies had also been disappointing.

However, if the trade war is the driving factor of Apple's declining sales and it remains uncertain whether a comprehensive trade deal will be established by March 1, investors can not possibly expect the performance of the company in China to improve in the short-term. Hassett says that Apple and other US companies operating in China, will see their business return in the country if the USA can have a successful negotiation with China.

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In addition, the holiday quarter was big for Apple's wearables business.

Apple's shares were halted after the stock market closed Wednesday. "If we have a successful negotiation with China, then Apple's sales and everybody else's sales will recover".

New Zealand share prices edged lower following on from another volatile session on Wall Street, which saw the Dow Jones industrial index drop by 2.8 per cent on the back of a profit warning from the U.S. tech giant Apple. When the suspension on selling was lifted, Apple shares fell 7.45%.

Regarding Apple's difficulties with sales specifically in China, the company blames the country's slow economic growth during the second half of 2018.

It's too early to say whether the trade-in program will help Apple attract new users.

Apple cut its revenue forecasts for the key end of year quarter late Wednesday, citing the unforeseen "magnitude" of the economic slowdown in China.

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