That would have represented revenue growth of as much as 5 per cent from the same period the year before.
"While Apple anticipated some challenges in key emerging markets, it did not foresee the magnitude of the economic deceleration, particularly in Greater China", said Cook. According to Cook, all of those factors (plus some others) resulted in fewer iPhone upgrades than expected. Apple's problems in China may continue deep into 2019.
The world's second largest economy, China is feeling the effects of a darkening trade outlook and government attempts to rein in risky lending after a rapid rise in debt levels.
The price gap is one reason Huawei surpassed Apple in smartphone sales from April through September previous year to seize the number two spot behind industry leader Samsung, according to the research firm International Data Corp.
Undeterred By Vivek Oberoi’s Film, Paresh Rawal Also to Play Modi
Also, Vivek Oberoi badly needs a break in Bollywood and this might be the one he needed. The first look of the much-talked-about Prime Minister Narendra Modi's biopic is out.
In the USA, the benchmark S&P 500 stock index dropped as much as 1pc after data showed Chinese factory activity contracting for the first time in more than two years, though the index clawed back the losses later in the session.
The ongoing US-China trade spat has also played its part in driving down Apple sales in the country, Cook stated, citing "the climate of mounting uncertainty" over the back-and-forth between Washington and Beijing.
Wedbush Securities analyst Daniel Ives described it as "Apple's darkest day during the Cook era", saying: "No one expected China to just fall off a cliff like this".
R. Kelly not charged for allegedly giving woman STI
Griggs said he has also been contacted by prosecutors in Chicago. Kelly, who turned 52 on Tuesday, has denied wrongdoing. In the note, Gaga writes about her song with R.
"Customer's existing phone acts as a subsidy for their new phone, and it is great for developers, as it can help grow our installed base". Furthermore, Cook conceded that the revenue from iPhone sales was lower than anticipated.
Speaking of the rest of Apple, Cook did state other areas of the company are gearing up to see record profits, with some reaching near a 19 percent increase year-over-year.
Apple predicts quarterly gross margin of 38% and operating expenses of $8.7 billion. Wearables grew by nearly 50 percent year-over-year, thanks to holiday sales of the Apple Watch and AirPods.
"Our non-iPhone businesses have less exposure to emerging markets", he wrote.
No Sign of Compromise on Wall at US-Mexico Border
Ms Pelosi and Mr Schumer reiterated their position: Sign legislation to end the shutdown, then negotiate over border security. On the television ratings front, the Democrats' response won the night over President Donald Trump's wall speech.
- De Blasio announces health care coverage for all New Yorkers
- Google Assistant is coming to Google Maps
- Seattle's TSA officers on verge of quitting over lack of pay
- New Captain Marvel teaser is all sass, Fury and explosions
- Stefanski headed back to Cleveland for second interview
- United States government shutdown: Trump to make border wall speech
- Trump claims 'tremendous support' over wall
- Warren Kicks Off 2020 Presidential Campaign In Iowa
- Nishikori Routs Chardy To Return To Brisbane Final
- Trump to stop federal relief aid for California wildfires