According to TechCrunch, Apple’s revenue for Q1 is on the decline, and iPhone sales are down by 15%. Apple’s reported revenue was lower than expected by Wall Street. Lucas Matney of TechCrunch added that Tim Cook, Apple’s CEO, released a letter to investors “slashing Q1 guidance from a range of between $89 billion and $93 billion to $84 billion.”
When he did this, Apple’s stock price fell approximately 10%, which was “the worst single-day plunge for the company in more than five years.” Another interesting thing to note is that this is the first quarter that Apple has not released data regarding unit sales for each of its product lines.
