Apple’s Tim Cook confirmed on Wednesday that the latest iPhones are not selling up to expectations. The news exposes his toughest challenge since taking over as CEO from the legendary Steve Jobs.
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The optimistic narrative about Apple’s iPhone business is falling apart in front of our eyes.
Apple CEO Tim Cook told employees he won’t blame “external factors” for selling fewer iPhones than anticipated during the holiday quarter.
Apple for the first time in almost two decades lowered its revenue outlook citing fewer than expected upgrades to new iPhones, weakness in China’s economy and supply constraints to newer models of the Apple Watch, iPad Pro and AirPods.
Move over, Netflix: Apple will be the best performing “Faang” stock in 2019, according to veteran analyst Gene Munster.
The Nasdaq Composite Index tumbled 3% on Friday, capping its worst week since the financial crisis. It’s now fallen 22% since its August record.
Apple is pulling older models of its iPhone from German stores after losing two patent cases brought by chip maker Qualcomm, the company said.
Spiralling losses in technology shares have pushed the Nasdaq Composite Index to the precipice of becoming the first major US stock gauge to enter a bear market since 2009.
Qualcomm general counsel Don Rosenberg said Apple needs to take seriously a Chinese court’s ban on the sale of some iPhone models.
Google’s planned $1-billion expansion in New York will solidify its dominance as the city’s top big-tech office tenant – but only until Amazon.com arrives.