• Wall Street drops more than 2 percent on slowdown fears

    2 monthes ago - By Reuters

    U.S. stocks plunged on Thursday, with the S&P 500 down more than 2 percent, after slowing U.S. factory activity on the heels of a dire revenue warning from Apple fueled fears of a global economic slowdown.
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  • Breakingviews TV: Bad Apple

    2 monthes ago - By Reuters

    The iPhone maker's sales warning lopped some $70 bln off the value of the Tim Cook-led firm. Rob Cyran explains that while Apple is especially vulnerable to a slowdown in China and consumer resistance to price hikes, many other companies are likely to feel the fallout.
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  • Apple's Warning Should Worry the Bling Kings

    2 monthes ago - By Washington Post

    LVMH and other giants of luxury fashion face the same crosscurrents that resulted in the iPhone maker's gloomy sales forecast.
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  • Adding to fears of economic slowdown, Apple warns sales will fall short and cites ‘deterioration' in China

    2 monthes ago - By Washington Post

    Firm cites trade war as a factor as news sends its stock, and the broader market, plunging in after-hours trading.
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  • Apple's App Store pulled in $1.22B over the holidays plus a record $322M on New Year's

    2 monthes ago - By Tech Crunch

    Apple today is sharing some good news in the wake of yesterday's reveal of a significant, market-moving cut to its revenue forecast, attributed to declining iPhone sales in China's slowing economy. The company says its App Store, at least, was having a good holiday. This year, customers spent $1.22 billion during the 2018 holiday season and broke a new single-day record on New Year's Day.
    The $1.22 billion in App Store spending occurred between Christmas Eve and New Year's Eve, Apple said. This is typically the peak season for App Store consumer spend, as customers load up new iPhones and...
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  • IPhone Sales Are Slow. But Apple Just Set a Single-Day Spending Record in the App Store

    2 monthes ago - By Fortune

    Apple might have spooked investors Wednesday with news that it was revising its guidance amid poor iPhone sales, but it's taking steps to demonstrate that other parts of the company are doing just fine.
    Apple announced Thursday that app store spending during the holiday 2018 period topped $1.22 billion. And New Year's Day set a company record, as iPhone and iPad users spent over $322 million.
    Games and self-care apps were the most popular apps in the period ranging from Christmas Eve to New Year's Eve, Apple said in a statement. Among the most popular downloads were Fortnite , PUBG...
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  • Why Marriott and Hilton Stocks Are Down Today

    2 monthes ago - By Fortune

    Marriott International Inc. and Hilton Worldwide Holdings Co. led hotel stocks lower after Apple Inc. reported slowing sales in China - giving investors cause to worry about an important source of the travel industry's future growth.
    Marriott fell as much as 5.1 percent, and Hilton slipped as much as 5.2 percent. They were down 3.5 percent and 3.2 percent, respectively, at 11:57 a.m. New York time, compared with a 2 percent drop in the Bloomberg Americas Lodging Index. Hyatt Hotels Corp. fell 2.5 percent.
    While China accounts for a relatively small share of global lodging companies'...
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  • Chinese Consumers' Confidence Sags, Casting a Pall Over the Global Economy

    2 monthes ago - By NY Times

    Apple's slumping Chinese iPhone sales are the latest sign that the country's spenders are increasingly bothered by the economy, debt and other problems.
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  • Apple shares sink as China gamble backfires

    2 monthes ago - By Reuters

    Apple shares tanked as much as 10 percent Thursday after it took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales on a lagging economy in China. But as Reuters' Cate Cadell explains, the cause may also be linked to Apple's own iPhone pricing strategy.
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  • Weak iPhone sales will cause drop in Apple revenue

    2 monthes ago - By Review Journal

    Apple warns that disappointing iPhone sales will cause a significant drop in its revenue over the crucial holiday season compared to earlier projections.
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