In his letter to investors, Cook touted continued traction in Apple's "non-iPhone businesses", including wearable devices and supplementary services, like iCloud, Apple Pay and the App Store.
The fact that Apple took the dramatic step of halting trading is an indication that the company was taken by surprise by the iPhone sales shortfall.
While President Trump's trade war with China isn't helping Apple and other United States technology companies, Mr Ives believes Apple miscalculated by continuing to roll out high-priced phones in China, creating an opening for rivals with less costly alternatives that still worked well.
The overall smartphone market didn't fare well in 2018. Since trade tensions don't appear to be lessening any time soon, this spells trouble for Apple and other companies that make a lot of money from the Chinese market. "Bernstein Liebhard wrote in their press release: "[On] November 1, 2018 during Apple's fourth quarter 2018 conference call, CEO Tim Cook stated that '[o] ur business in China was very strong last quarter. Until now, they have been too content with executives' pablum and bromides. He said, "Don't forget this, Apple makes their product in China, I told Tim Cook who is a friend of mine who I like a lot, make your product in the United States, build those handsome plants that go on for miles it seems".
Apple's lower prediction added to concerns that the iPhone maker will keep losing ground in the important Chinese market.
USA indexes, which closed broadly lower on Thursday, were set to recover, too.
That explanation deserves more attention. And market data has shown that the contraction in Greater China's smartphone market has been particularly sharp.
PM Imran reaches Turkey on two-day visit
He said we also want to eradicate corruption which will help flourish investment, especially in the small and medium enterprises. The Prime Minister said our main concern is to take people out of poverty and this will be done by promoting wealth creation.
Market jitters even extended briefly to the Brexit-battered pound, which tumbled to a 21-month low close to $1.24 overnight against the United States dollar in a "flash crash" triggered by an exodus from currencies considered riskier - before very quickly recovering the losses to return to around $1.26.
Apple's first instance of revised earnings guidance since 2002 has the potential to rattle the financial markets as it puts the spotlight on China's woes and the dependence of the largest US companies on strong growth in the world's second-largest economy.
"Our country is doing by far than than any other country in the world". Apple comprises about 2.6% of Stokes Capital Advisors LLC's portfolio, making the stock its 7th biggest holding. Cook said the trade-in program is one of the initiatives to improve the company's results in his letter, but he didn't specify his expectations for the promotion in China.
Now the ongoing trade war between the US and China may be having even more of an impact. Sound familiar? Some of those excuses were valid then.
In December, Bloomberg News reported the company was facing a "fire drill" to boost iPhone sales. In interviews over the years, Cook sought to accentuate the positive about business in China, notably by saying one or more iPhones were the most popular smartphones in China.
Apple did not immediately respond to a request for comment about this report.
The U.S. and China have raised tariffs on billions of dollars of each other's goods in a fight over Beijing's technology policy, which Washington alleges is predatory. But that didn't mean everything was trouble free, as Cook repeatedly suggested. But China's tariff fight with the USA and an avalanche of bad news about tumbling auto and real estate sales are undermining consumer confidence after two decades of nearly unbroken rapid growth. That isn't entirely true.
Wall Street brokerages predict that Apple Inc.