AAPL GOT CRUSHED … halted for 20 minutes, reopened at 4:50pm ET, and instantly tumbled 8%...
Guidance: now expect to make only $84 billion in the first fiscal quarter, an 8% drop from the consensus estimate of $91 billion, and sharply lower from the previous revenue guidance of $89-$93 billion given just two months ago,
Cook blamed the ongoing trade war with China, and indirectly accused China of boycotting Apple products.
We did not foresee the magnitude of the economic deceleration, particularly in Greater China [one of the biggest markets for Apple].
In fact… over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad.
Cook's full letter/8-K is at the bottom here:
https://www.zerohedge.com/news/2019-01- ... to+zero%29