Here's how poor iPhone sales erased $450 billion in market value for Apple
Updated : January 30, 2019 03:31 PM IST
The $450 billion market capitalisation loss includes the billions of dollars the company lost after the forecast cut announcement. Before the three-month period, Apple's market cap had a valuation of over $1 trillion.
Wednesday was the first time that Apple issued a warning on its revenue guidance ahead of releasing quarterly results since the iPhone was launched in 2007.
Tim Cook, in a letter to investors, admitted that China is not the only issue with iPhone sales.
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