The warning, which came after trading in NY closed on Wednesday, looked likely to rattle already-volatile stock markets when they reopen on Thursday - with stock index futures pointing to Wall Street falls. The truth remains that the iPhone has always been Apple's core business and if Apple can't sell enough of them, the whole company struggles. Apple shares are down 9.27% in midday trading on Wednesday at $143.28.
Investors also were encouraged by news that the US and China will hold trade talks in Beijing on January 7 and 8.
Peter Richardson, a research director at Hong Kong-based Counterpoint Research, said it was hard to see a catalyst that will help Apple recover lost ground in China.
"People are anxious that if a big name such as Apple has to report a decline in earnings, who else can be protected from something like that?", he said.
Indeed, Apple faces several tough Chinese competitors like Huawei and Xiaomi that are now selling cheaper smartphones that are increasingly popular in China, as research firms like IDC have previously reported.
He also cited other factors that contributed to the drop in iPhone revenues such as consumers adapting to a world with fewer carrier subsidies, price hikes resulting from a stronger US dollar, and lower price for iPhone battery replacements.
Despite these challenges, we believe that our business in China has a bright future.
Nationalistic sentiment was likely intensified by Apple apparently ignoring a Chinese court-ordered ban on iPhone sales in a case involving U.S. chipmaker Qualcomm, according to the analyst.
Dialog Semiconductor, which makes chips, saw shares fall seven percent at the opening of Frankfurt markets, according to CNBC.
To be sure, Apple's warning would've had a much larger impact if not for the drubbing equities have taken over the last three months.
"It's two-third what's happening in China and one-third Apple's pricing", said Gene Munster, managing partner at Loup Ventures, noting the weighted average iPhone price had jumped 23% with the release of the new models.
In the letter, he admitted that fewer people were locked into the route of automatically upgrading their iPhones for whatever price Apple demanded.
Tenshin Nasukawa a laughable event
The two took part in an exhibition fight that was clouded in uncertainty as to whether or not it was ever going to really happen. As for Mayweather - don't be surprised if he picks up another one of these easy pay day boxing matches in the new year.
Chinese shoppers toldReuters another element had been key: the high price-tag on Apple's flagship phones.
So, not only is the overall smartphone market just not a fast-growing one, but Apple's corner of it - lucrative as it is - looks set to become a smaller portion of the overall market.
Data Sheet, Fortune's technology newsletter. Stocks went into a steep slide Thursday after Apple sent a shudder through Wall Street with word that iPhone sales in China are falling.
This represents the biggest stock market dive since 5 December when United States stocks suffered a dramatic decline; the Dow Jones fell 800 points back then due to renewed concerns over Washington's trade dispute with China and indications of a possible looming economic recession.
"We nevertheless expect the situation to stabilize in 2020 and EPS growth to resume", Ferragu said.
As great as he was, not even the uber-athletic Murray could overcome a four-touchdown deficit against Alabama's prolific program. That's a key for Riley moving forward. "This is what we came here to do", Clemson coach Dabo Swinney said. "It's your job.
At The Baltimore Sun , for example, the usual comics and puzzles were not included in Saturday's print edition, the paper tweeted. Technology teams made significant progress in fixing it, but were unable to clear all systems before press time .
But India's ruling Hindu nationalist Bharatiya Janata Party (BJP) has argued that the court ruling is an attack on Hindu values . The campaign was sparked by controversy over a court ruling to allow women into the Sabarimala Temple in Kerala.
But Friday, CenturyLink customers in Washington state and MA noted that the outages led to sporadic outages for 911 calls. A 911 outage also occurred in 2014 and lasted for about seven hours, according to previous Seattle Times reporting.
After being asked about his quarterback's future, Patriots head coach Bill Belichick was not interested in talking about Brady. Brady said that after nearly two decades in the league, he continues to view football as the greatest "gift" in his life.
By her own admission, it has been more than a decade since a child has died in the custody of Customs and Border Patrol. After the second death, the CBP announced it was developing several policy changes late Tuesday.
The shooting and subsequent manhunt captured the attention of residents in and around Stanislaus County and across the country. Gustavo Perez Arriaga is accused of killing 33-year-old Ronil Singh in the town of Newman early on Wednesday.
The department posted an image of officers mourning the loss of the truck with the caption, "No words". Law enforcement from as far away as Ireland have responded to Lexington Police about the incident.
That is a factor why we are having a lot of starts, because they are just bowling really well and making it really hard to score. The wicket triggered bear hugs and backslaps among the Indian players as travelling fans in the sparse crowd roared with joy.
Israeli PM meets Bolsonaro in Brazil
Brazil, he said, "is an huge country with enormous potential for Israel from an economic, security and diplomatic point of view". Bolsonaro and his team have excluded the leaders of leftwing-ruled nations Venezuela , Cuba and Nicaragua from the inauguration.
China Releases Detained Canadian Teacher
Meng is sought by the U.S. for allegedly lying to banks as part of an effort to evade sanctions on Iran. One of three Canadians detained in China has been released and is back home.
United Kingdom alarm as migrant boats cross Channel
Compared to other influxes of migrants and refugees, the numbers trying to cross the Channel recently are tiny. A Home Office spokesman said: "The group consisted of nine men, two women and 10-year-old child".
Eagles clinch playoff berth; Vikings fall to Bears
That, coupled with their 24-0 win over the Washington Redskins , gave the Eagles the sixth and final playoff spot in the NFC. The Vikings also will be without linebacker Eric Kendricks for the second consecutive game because of a hamstring injury.