mo4ch:>Apple iPhone sales look $9bn worse than expected, CEO blames China & cheap batteries | Mo4ch News

Apple shares plummeted after CEO Tim Cook revealed that the iPhone maker expects a drop of up to $9bn in revenue compared to its November report. More affordable battery replacements are to blame, among other things.Apple stated that it now expects a revenue of approximately $84 billion in the first quarter of 2019, down from its previous estimate of $89bn to $93bn. Markets have reacted swiftly to the news, sending Apple shares into a 7.5-percent nosedive.Explaining the causes behind the revision, Cook almost squarely blamed the expected drop in sales on the economic slowdown in mainland China, a key emerging market for Apple smartphones."While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China," Cook wrote, noting that "most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China."Also o…