Apple finally acknowledges lower-than-expected iPhone sales

Today, Apple released an open letter to investors revising its guidance for Q1 of this year. The "guidance" is the information a company provides as a way to predict its future earnings. This is a rare occurrence, especially for a company with a status as grand as Apple. Essentially, Apple is lowering its guidance (expected revenue) for the first quarter of 2019 from (previously) between $89 billion and $93 billion down to $84 billion. This is compared to Apple's reported $88.3 billion in revenue for Q1 of 2018. The full letter can be found at the Source link below but here is the key...