Apple Warns of Sluggish Holiday Quarter After China Slowdown
- Sales of iPads and wearable products are expected to suffer
- Even with challenges, iPhone sales slightly exceed estimates
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Apple Inc., already facing a slowdown in China, warned that revenue in the holiday quarter will be about the same as last year, signaling that investors won’t see the growth rebound they were banking on.
Though iPhone revenue is expected to increase in the December quarter, overall sales will be similar to the year-earlier period, Chief Financial Officer Luca Maestri said on a conference call Thursday following Apple’s quarterly report. The tepid outlook sent shares down as much as 2.4% Friday, before paring some losses.