Apple issued a statement yesterday to announce the revision of its 2019 Q1 earnings report, which lowered the 1Q 2019 revenue estimate, from $93 billion to only $84 billion. According to Bloomberg News, Apple will hold an all-hands meeting with employees today, the focus of the meeting is related to the revision of the financial report, Apple executives will likely answer questions from employees.
Cook said Apple's revenue for the first quarter of FY19 is expected to fall by $9 billion, entirely due to the few upgrades of iPhone, however, revenues from other product categories are expected to set a record, including the Mac App Store and iCloud. Services, as well as wearables such as Apple Watch and AirPods.
Although the lower-than-expected iPhone revenue (mainly in Greater China) is the central reason that they cut the overall revenue. But at the same time, Cook also said that during the Christmas period, the US and Canada's iPhone activation has also set a new record. The CEO also stated that the worldwide installed base of active devices hit a new all-time high as well.
Still, at the time of writing, Apple stock suffered from -9.02% of loss in stock share, it's on pace to pass its worst day of trading since January 2013, about 6 years ago. Ever since Apple announced that it will no longer disclose iPhone, iPad, and Mac unit sales in its last earnings report, AAPL was down over 35 percent since closing at $222.22 on November 1.
