Investing.com – Apple (NASDAQ 🙂 shocked investors in the market on Wednesday, cutting down the guidelines for the quarter just completed.
For its fiscal first quarter ended December 29, the tech giant now expects revenue of about $ 84 million. This is well below the consensus estimates of analysts of $ 91.36 billion.
Apple initially envisioned revenues of between $ 89 and $ 93 billion.
Shares fell 7.5% after hours and should withdraw futures on open Wall Street.
Apple has blamed the iPhone's revenue and upgrades as expected, something the seller has been worried lately, and the weakness of emerging markets.
The number of brokerage services cut production estimates in the first three months for the iPhone after several component manufacturers forecast weak sales from sales that made some viewers in the market call the iPhone's top in several key markets.
"While Greater China and other emerging markets have contributed to the vast majority of iPhone's revenue decline in the year, in some developed markets, iPhone upgrades were also not as strong as we thought they would be," said Tim Cook in letter to investors.
"(M) the sharpness of our income shortage of our guidance, and over 100 percent of our year-over-year revenue decline in the world has occurred in Greater China via iPhone, Mac, and iPad," Cook said.
Apple forecasts a quarterly gross margin of 38 percent and operating costs of 8.7 billion dollars.
– Reuters contributed to this report.
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