"In fact, 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".
The revenue drop for the just-ended quarter underscores how an economic slowdown in China has been sharper than many expected, catching companies and leaders in Beijing off balance and forcing some to readjust their plans in the market.
Business Insiderreports that the NY law firm Bernstein Liebhard has begun to attempt to gather support from Apple investors for a class-action lawsuit against the tech giant over their failure to warn investors about the lack of iPhone demand.
This is why analyst Rod Hall says Apple looks a lot like the old Nokia, which also struggled to remain relevant in the mobile market once its own business reached saturation and customers delayed upgrades to new-generation models.
Cook blamed the lowered forecast on several different factors, including the timing of its latest generation iPhone launches, a strong U.S. dollar creating foreign exchange headwinds, supply constraints, and economic weakness in some emerging markets. Analysts had been expecting revenues of around $91bn, according to market analyst FactSet. In announcing the new forecast, Cook said the Chinese smartphone market is contracting and noted that foot traffic to Apple retail stores has been down in recent months. Nowadays though, the iPhone is more expensive than ever and less people seem interested in upgrading, leading to Apple issuing its first "profit warning" since 2002.
Beyond pricing, some consumers in China have fled to competitors like Huawei's phones for their combination of unique back covers and camera systems, and upstarts like OnePlus because of its speed.
Ever since the launch of the original iPhone, Apple has been on a meteoric rise in profit, to the point where Apple hit a $1 trillion market cap a year ago.
Cook in November had cited slowing growth in emerging markets such as Brazil, India and Russian Federation when Apple gave first-quarter sales estimates that were lower than expected.
Apple shares skidded 7.7 percent in after-hours trade, dragging the company's market value below $700 billion.
Apple's move was not entirely a surprise. But he said then that he "would not put China in that category" of countries with troubled growth.
However, the company's woes in China have been exacerbated by a court decision that could potentially ban iPhone sales in the country.
Cook also spoke of "rising trade tensions with the United States" which has seen Apple become the target of a boycott campaign by prominent Chinese companies, something which has escalated more when Huawei's CFO was arrested in Canada.
Analysts are adding Apple's predictions and their effects to fears of an economic slowdown.
Huawei recently announced that it shipped more than 200 million units previous year.
Others advised Cook to stop pointing the finger at China, and instead fix the flaws in Apple services and work on new products.
Its revenues from wearables, computers, and services divisions have grown revenues year-on-year by nearly 19 percent. He also said that upgrades to new iPhone models in other countries were "not as strong as we thought they would be".
The pixelated image does not exclude the possibility that Ultima Thule is really two objects in close proximity or in contact. A huge spill-over crowd in a nearby auditorium joined in the loud celebration, cheering each green, or good, status update.
Troy Tulowitzki reacts after hitting a solo home run against the Minnesota Twins on August 4, 2015 at Rogers Centre in Toronto. Tulo and the Yankees have agreed on a deal that will pay the shortstop the league minimum, according to ESPN's Jeff Passan .
A cold winter storm trekking across the upper Midwest has led to the deaths of at least three people, authorities said. Forecasters expect several inches of precipitation - but the amount of rain vs snow depends on your location.
The match will be the first time the two 37-year-olds, who have with 43 Grand Slam singles titles between them, face each other. As Tennis .com notes, Williams said: "You know, I've been training in the off-season to be ready for Roger".
The Hunger Games star wore a black suit while Miley opted for an off-the-shoulder white gown as you'll see below. In each picture, Cyrus is dressed in all-white while the 28-year-old actor is wearing a tuxedo with white shoes.
The Turkish IHA news agency reported that a convoy of Turkish troops - a commando unit - had been sent into Syria overnight. Turkey's fears about Kurdish militia were partly allayed by a deal reached in June over Manbij.
The area is flat near the highway, then slopes sharply downward closer to the fence, where most of the migrants were clustered. During a second attempt, migrants began to pass youngsters over razor wire used along the border to the USA side.
Solskjaer said he hadn't felt the need to tell Pogba to cut out the showboating but clearly believes his message has got through. WORST PLAYER - In a game of little error, Eric Bailly slightly tarnished United's performance.
Liam Hemsworth and Miley Cyrus met for the first time on the set of " The Last Song " and shared their first kiss on-screen. Miley's sisters Noah and Brandi as well as Liam's brothers Chris and Luke were also in attendance at the party.
9 people injured, suspect arrested in Tokyo van attack
Another man was slightly injured after Kusakabe allegedly struck him after getting out of the vehicle , the police said. It was not immediately clear whether he was referring to a specific execution or Japan's system of capital punishment.
For Trump, Pelosi shutdown becomes first battle of new era
If the President continues to insist on $5 billion for the wall, the House Democrats' plan would fall into that category. The GOP-controlled Senate will not be advancing a bill on the issue that does not have President Trump's backing.
John Kelly breaks with Trump: 'To be honest, it's not a wall'
Lindsey Graham , who said he hoped to end the shutdown by offering Democrats incentives to get them to vote for wall funding. Gerry Connolly (D-Va.) said the president "apparently lacks any capacity for human empathy" during an interview on MSNBC.
Arsenal without Ozil against Liverpool
The situation was already unsafe and a rash challenge from the luckless Papastathopoulos did nothing to improve it. Liverpool then made it four just before the interval as Sokratis Papastathopoulos brought down Salah in the box.
Erdogan and Netanyahu begin new war of words
The Justice Ministry announced today that deliberations were continuing and were "not dependent on political events". Netanyahu, who also served a term in the late 1990s, has been prime minister for the past decade.