By MICHAEL LIEDTKE, AP Technology Writer
SAN FRANCISCO (AP) — Apple acknowledged that demand for iPhones is waning, confirming investor fears that the company’s most profitable product has lost some of its luster.
The reckoning came in a letter from Apple CEO Tim Cook to the company’s shareholders released after the stock market closed Wednesday.
Cook said Apple’s revenue for the October-December quarter — including the crucial holiday shopping season — will fall well below the company’s earlier projections and those of analysts, whose estimates sway the stock market.
See the full story HERE.
Get our free daily email updates and never miss a story: http://eepurl.com/cCIqGL