#TIA – Is this mighty falling? Apple’s slump pulls the entire technology sector with it.
It wasn’t the best start to the new year for Apple.
Right before the closing bell on the first day of trading in the US today (Jan. 2), Apple halted shares to announce that it was cutting its guidance for revenue in the holiday quarter. In November, when it first announced its guidance for the quarter—traditionally its strongest, as consumers around the world buy phones, computers, tablets as gifts—Apple said it expected to generate between $89 billion and $93 billion for the quarter. Today, the company said it expects to generate around $84 billion for the quarter, which would be about $4 billion less than it generated in the same period last year.
Read more at Quartz