It’s been an interesting few weeks for Apple, to say the least. In early October of 2018, the company was riding high. Interest in the iPhone XR release was mounting and Apple shares, as a result, were trading at an all-time high. Flash forward a few weeks and the narrative surrounding Apple seemingly did a 180 as reports of tepid iPhone XR demand began to emerge. And while it’s easy to dismiss any lone rumor from the supply chain, the sheer number of reports pointing to disappointing iPhone XR sales became too large to ignore.
About a week ago, Apple CEO Tim Cook penned a letter to investors and disclosed that Apple was revising its quarterly guidance for revenue by a few billion dollars on account of slower than expected iPhone XR sales. Apple shares, which were already down at this point, sunk even further and are now trading at levels not seen since mid-2017.
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Tim Cook defends Apple, says product pipeline and ecosystem underappreciated by investors originally appeared on BGR.com on Tue, 8 Jan 2019 at 21:03:22 EDT. Please see our terms for use of feeds.
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