AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November

AAPL has opened at $144 today on the stock market, with share prices sliding roughly nine percent after Apple lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year.


AAPL is down just over 35 percent since closing at $222.22 on November 1, just prior to its last earnings report.

In a letter to shareholders on Wednesday, Apple disclosed that its revenue will be lower than its original guidance for the first quarter of its 2019 fiscal year, coming in at approximately $84 billion. Apple originally guided for revenue of $89 billion to $93 billion in the quarter on November 1.

The letter said lower than anticipated iPhone revenue, primarily in Greater China, accounts for the entire revenue shortfall.

In an internal memo, Apple CEO Tim Cook said he will host an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus to answer questions about the shortfall.

AAPL was already dragged down by Apple's recent announcement that it will no longer disclose iPhone, iPad, and Mac unit sales starting with its next quarterly earnings report. The move sparked fears among some investors and analysts that Apple had something to hide, particularly regarding slowing iPhone sales.

Apple yesterday announced that it will report its earnings for the first quarter of its 2019 fiscal year on January 29.

Tag: AAPL

Top Rated Comments

(View all)
Avatar
23 months ago
Honestly, Apple needed this kick in the rear. The market has spoken about the pricing of Apple's products (in relation to features). Time to innovate again and sell products at reasonable prices.
Score: 83 Votes (Like | Disagree)
Avatar
23 months ago

I think Steve's inertia is starting to wear off.

This.

I'm surprised it lasted as long as it did. Tim Cook's Apple, is not the Apple I used to care about, that's for sure.
Score: 57 Votes (Like | Disagree)
Avatar
23 months ago
I think Steve's inertia is starting to wear off. Tim would have been good until they found someone with vision to take over. Tim is a visionless, platitude machine.
Score: 53 Votes (Like | Disagree)
Avatar
23 months ago
Who will be Apple's CEO this time next year?

Hopefully not Tim.
Score: 44 Votes (Like | Disagree)
Avatar
23 months ago
this dropped harder than my last mixtape.
Score: 38 Votes (Like | Disagree)
Avatar
23 months ago

Don't forget that it was under his leadership that the stock hit its all time high

Doesn't take a genius to rake in short-term profits, any bad CEO can do that. Checklist:

1) Abandon quality control (butterfly keyboards, kernel panics, blown out speakers) => more money
2) Focus on the single money-making product, abandon all else (Mac Pro? Who needs it) => more money
3) Replace innovation with "innovation" (no more SD card slots! Our lives are so much better now) => more money
4) Rebrand products and sell them twice (Macbook air is literally a MBP with a different shape and worse components) => more money
5) Forgot to mention the best part - just ramp up the prices! => more money

Aaaand now the stock is (predictably) falling down and Timmy is crying tears as for some unknown reason the consumers don't want to buy $2000 phones and $3000 laptops.
Score: 30 Votes (Like | Disagree)

Top Stories

iOS 14 Widgets Offer iPhone Users Creative Home Screen Ideas

Sunday September 20, 2020 8:43 pm PDT by
Updated on September 22nd with hands on video. In iOS 14, Apple introduced ‌the concept of Home Screen‌ widgets, which provide information from apps at a glance. Widgets can be pinned to the Home Screen in various spots and sizes, allowing for many different layouts. Despite the relative lack of...

iPhone 12 Lineup Rumored to Be Named 'iPhone 12 mini,' 'iPhone 12,' 'iPhone 12 Pro,' and 'iPhone 12 Pro Max'

Monday September 21, 2020 5:24 am PDT by
Leaker known as "L0vetodream" has today shared the alleged naming for the upcoming iPhone 12 lineup on Twitter. The tweet proposes that the upcoming iPhone 12 models will be titled "iPhone 12 mini," "iPhone 12," "iPhone 12 Pro," and "iPhone 12 Pro Max." The names likely correspond to the three expected sizes of iPhone 12, with the 5.4-inch model being the iPhone 12 mini, the 6.7-inch model ...

PSA: New Apple Watch Owners Have to Return Entire Device for Ill-Fitting Solo Loop or Braided Solo Loop

Monday September 21, 2020 3:26 pm PDT by
With the Apple Watch Series 6, Apple introduced two new band options, the Solo Loop and the Braided Solo Loop. These new bands are unique because they have no clasps, buckles, or other fasteners, and instead use a stretch design to allow them to pull onto the wrist over the hand. Because these bands are not adjustable, Apple sells each one in nine different sizes to make sure each person...

Hands-On With iOS 14 Widgets, Custom Icons, and Home Screen Setup

Tuesday September 22, 2020 3:25 pm PDT by
Apple with iOS 14 introduced widgets on the Home Screen, leading to unprecedented levels of customization for the iPhone. Combined with Shortcuts that let you change an app's icon, iOS 14 lets you create a whole new look for your Home Screen. Subscribe to the MacRumors YouTube channel for more videos. We've been following along with some of the creative alternative Home Screen designs that M...

Apple Releases First Public Betas of iOS 14.2 and iPadOS 14.2 With New Shazam Control Center Options

Monday September 21, 2020 10:34 am PDT by
Apple today seeded the first public betas of upcoming iOS 14.2 and iPadOS 14.2 updates to its public beta testing group, a few days after seeding the first betas to developers and a little less than a week after releasing the iOS 14 and iPadOS 14 updates. Public beta testers who have signed up for Apple's beta testing program can download the iOS and iPadOS‌ 14.2 updates over the air after ...

Microsoft Announces Outlook for Mac Redesign, Improvements to iOS and watchOS Apps

Tuesday September 22, 2020 8:56 am PDT by
Microsoft has today announced plans to bring a new design to its Outlook for Mac app along with several other improvements and features for Outlook on iOS and watchOS. In preparation for the public release of macOS Big Sur, Microsoft has been testing a new design for Outlook on Mac. The design includes Microsoft's Fluent icons and several design cues from Big Sur such as rounded corners....

Kuo: Apple to Accelerate Adoption of Mini-LED Displays in iPad and Mac Notebook Lineups

Sunday September 20, 2020 10:00 pm PDT by
Increased competition among Apple's suppliers for mini-LED display chips will accelerate the company's adoption of the advanced technology in its iPad and MacBook lineups, according to a new research note from analyst Ming-Chi Kuo seen by MacRumors. Kuo says that while Epistar had been predicted to be the exclusive supplier of mini-LED chips for Apple products in 2021, Sanan Optoelectronics...

Interest in iOS 14 Home Screen Ideas Helps Pinterest Break Daily Download Record

Wednesday September 23, 2020 4:37 am PDT by
Apple's introduction of widgets on the Home Screen in iOS 14 has driven a surge in interest among users looking to customize their iPhone, and that has reportedly had a knock-on effect for Pinterest, whose iOS app has seen record downloads as users flock to its content seeking design inspiration. As reported by TechCrunch, App Store intelligence firm Apptopia was first to note the impact of ...

Apple Releases Eighth Beta of macOS Big Sur to Developers [Update: Public Beta Now Available]

Tuesday September 22, 2020 10:08 am PDT by
Apple today seeded the eighth beta of an upcoming macOS Big Sur update to developers for testing purposes, close to a week after releasing the sixth beta and more than two months after the new update was unveiled at the Worldwide Developers Conference. The macOS Big Sur beta can be downloaded through the Apple Developer Center and once the appropriate profile is installed, subsequent betas...

AT&T Already Working on 6G, Says 5G iPhones Might Not Be 'Massive Event' Due to Economic Uncertainty

Monday September 21, 2020 10:05 am PDT by
Apple's upcoming launch of 5G iPhones might not be a "massive event" due to economic uncertainty amid the global health crisis, AT&T Communications CEO Jeff McElfresh said in a paywalled interview published by CNBC. "I do believe that you will see many of the iPhone subscribers move to upgrade to the device," said McElfresh. "But I wouldn't forecast that it's going to be a massive event. I...