Apple expects to lose $9 billion in Q1 revenue over slowing iPhone sales

Apple is facing a rocky start to 2019, as it’s published a letter from CEO Tim Cook to shareholders explaining that the company expects a $9 billion drop in revenue in the first quarter of 2019 (down from a high forecast of $93 billion to an updated figure of $84 billion). The company is chalking that up to poor iPhone sales, particularly in China. Its revenues from wearables, computers, and services divisions have grown revenues year-on-year by almost 19 percent. Here’s Cook explaining what’s going wrong: While Greater China and other emerging markets accounted for the vast majority of the…

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