Apple iPhone: Tim Cook confirms disappointing sales and tries to reassure shareholders

The iPhone XS, XS Max and XR do not sell as much as expected by Apple. This is no longer a rumor, but an assertion of Tim Cook in a letter sent to investors.
For several weeks the rumor of bad sales of new iPhone swells. She was particularly supported by the arrival of Apple's aggressive advertising campaign in the United States to push users to change their smartphone for a new model.
Apple will not reach its goal
Apple has issued a letter from Tim Cook to shareholders, warning that the next results will not be as good as expected. Tim Cook says fewer users have made an iPhone change than expected. It must be said that the iPhone usually accounts for about 70% of Apple's sales, not to mention its indirect impact on other sales (Apple Music, Apple Watch, iPad, etc.).
The firm has therefore revised its predictions for the first quarter of the fiscal year, with a decline in sales that could reach $ 9 billion compared to its first predictions.

The reaction of the shareholders was immediate and the price of the Apple stock fell 11.9% after closing. Microsoft remains the first market capitalization of the United States.
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