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Peak iPhone: Apple Signals Device Sales Slowing

January 2, 2019

Apple lowered its sales and financial guidance for the first quarter as sales of its flagship iPhone products fail to keep pace with expectations. Apple blames most of the anticipated shortcoming on slowing sales in China.

Apple stock prices tumbled sharply as the company issued a rare downward guidance for its first-quarter sales. CEO Tim Cook blames the lower revenue forecast on slowing sales of its iPhone and Apple Watch in China.