In comparison, Apple revenues for the 2017 holiday quarter was $88.3 billion, the biggest quarter in the company's history. Apple CEO points to China's slowing economy for the company's revenue shortfallIn a letter to investors, Cook blamed the profit warning on a single key factor: The collapse of iPhone sales in China. In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad," wrote Cook. Adding that lower than anticipated iPhone revenue, primarily in Greater China, accounted for all of the Silicon Valley company's revenue shortfall to its original guidance and for much more than its entire year-over-year revenue decline of $4.3 billion. In fact, Apple's chief said that categories outside of iPhone (services, Mac, iPad, wearables, HomePod, accessories) combined are expected to grow almost 19% year-over-year.

Source: Forbes January 03, 2019 23:29 UTC