Apple CEO Tim cook published an open letter to investors, which confirmed reduced demand for the iPhone. Cook reported that in this regard, Apple has decided to lower its forecast of revenue in the first fiscal quarter of 2019 from $89-93 billion to $84 billion forecast Reduction in revenue occurred for the first time Tim cook of Apple.
Tim cook said that a key reason for the failure of the iPhone XS, Max XS iPhone and iPhone XR are the reduced smartphone sales in developing countries. Particularly strong on revenue Apple was influenced by decreased demand for smartphones in China. Cook emphasized that Apple was expecting “some problems in key emerging markets, but it is a serious economic slowdown the company anticipate could not.”
According to cook, almost all the forecasts for sales of Apple technology in China and Hong Kong did not materialize. He also noted that the deterioration of trade relations between the US and China also contributed to the decline in demand for iPhone.
Therefore, cook confirmed that demand for the iPhone XS iPhone XS iPhone Max XR indeed reduced. Because of this, Apple has decided for the first time in the reign of Tim cook to change its forecast for quarterly revenue is now expected less than once in $5 billion. Investors reacted to the statement by cook instantly and Apple shares fell another 9%.