For the first time in 16 years, Apple reduced its revenue expectation due to poor performance in Chinese consumer market.Tim Cook, CEO of Apple Inc, blamed the decline to the weakening of macroeconomic environment in China .
He referred to a slowdown in the Chinese economy. Exacerbating the problem in the Middle Kingdom, Cook explained, are “rising trade tensions with the United States.”
Head over to see the indicators explaining the change.
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