AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November
AAPL has opened at $144 today on the stock market, with share prices sliding roughly nine percent after Apple lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year.
AAPL is down just over 35 percent since closing at $222.22 on November 1, just prior to its last earnings report.
In a letter to shareholders on Wednesday, Apple disclosed that its revenue will be lower than its original guidance for the first quarter of its 2019 fiscal year, coming in at approximately $84 billion. Apple originally guided for revenue of $89 billion to $93 billion in the quarter on November 1.
The letter said lower than anticipated iPhone revenue, primarily in Greater China, accounts for the entire revenue shortfall.
In an internal memo, Apple CEO Tim Cook said he will host an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus to answer questions about the shortfall.
AAPL was already dragged down by Apple's recent announcement that it will no longer disclose iPhone, iPad, and Mac unit sales starting with its next quarterly earnings report. The move sparked fears among some investors and analysts that Apple had something to hide, particularly regarding slowing iPhone sales.
Apple yesterday announced that it will report its earnings for the first quarter of its 2019 fiscal year on January 29.
Popular Stories
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models.
Latest Rumors
These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...
Apple should unveil the iPhone 17 series in September, and there might be one bigger difference between the Pro and Pro Max models this year.
As always, the Pro Max model will be larger than the Pro model:iPhone 17 Pro: 6.3-inch display
iPhone 17 Pro Max: 6.9-inch displayGiven the Pro Max is physically larger than the Pro, it has more internal space, allowing for a larger battery and...
Apple's position as the dominant force in the global true wireless stereo (TWS) earbud market is expected to continue through 2025, according to Counterpoint Research.
The forecast outlines a 3% year-over-year increase in global TWS unit shipments for 2025, signaling a transition from rapid growth to a more mature phase for the category. While Apple is set to remain the leading brand by...
The iPhone 17 Pro Max will feature the biggest ever battery in an iPhone, according to the Weibo leaker known as "Instant Digital."
In a new post, the leaker listed the battery capacities of the iPhone 11 Pro Max through to the iPhone 16 Pro Max, and added that the iPhone 17 Pro Max will feature a battery capacity of 5,000mAh:
iPhone 11 Pro Max: 3,969mAh
iPhone 12 Pro Max: 3,687mAh...
The long wait for an Apple Watch Ultra 3 appears to be nearly over, and it is rumored to feature both satellite connectivity and 5G support.
Apple Watch Ultra's existing Night Mode
In his latest Power On newsletter, Bloomberg's Mark Gurman said that the Apple Watch Ultra 3 is on track to launch this year with "significant" new features, including satellite connectivity, which would let you...
AppleInsider's Marko Zivkovic today shared a list of alleged identifiers for future Mac models, which should roll out over the next year or so.
The report does not reveal anything too surprising, but it does serve as further evidence that Apple is seemingly working on new models of every Mac, including the MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, and Mac Pro.
Apple is...
Apple's next-generation M5 chip is expected to debut in five new products later this year, including the iPad Pro, Vision Pro, MacBook Pro, Mac mini, and iMac.
M5 chips will reportedly be manufactured with TSMC's latest third-generation 3nm process, which should result in slight performance and power efficiency improvements over M4 chips fabricated with its second-generation 3nm process.
...
