Apple has yet again reportedly slashed its iPhone production plans, this time for the first quarter of the year. "We believe the economic environment in China has been further impacted by rising trade tensions with the United States".
Mueller said today that Apple's current problems are a good example of what happens when a company fails to get the combination of innovation, features and price right.
He said the iPhone XR has, in fact, been the most popular iPhone "every single day" since it started shipping out to customers.
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According to Apple, their inability to meet expected revenues could be blamed on China as the sales of iPhones fall drastically in the world's most important smartphone market.
Reuters reports that market research firm Canalys is expecting smartphone shipments in China to fall three percent in 2019 after a 12-percent decline previous year.
The difference is substantial, given the 52.21 million units Apple sold in January-March 2018. Winslow Evans & Crocker Inc.'s holdings in Apple were worth $9,244,000 at the end of the most recent quarter.
The report comes after chip suppliers Samsung Electronics Co Ltd and Skyworks Solutions Inc flagged weak first-quarter chip demand for smartphones.
Apple representatives didn't respond to a request for comment.
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A new report claims that Apple has cut production of new iPhones by another 10 percent in the wake of its blockbuster sales warning.
Market research firm Canalys estimated shipments of smartphones fell 12 per cent a year ago in China, the world's largest smartphone market.
Apple's Chief Executive Officer Tim Cook told CNBC on Tuesday that "naysayers on Wall Street were under-appreciating the Company's growing ecosystem of devices and services".
If accurate, it would be the second time Apple has cut production of its iPhones in the last two months.
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