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Apple cuts Q1 2019 earnings estimates, blames everyone but itself

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<p>Trading for Apple stock halted briefly on Wednesday afternoon as Tim Cook <a href="https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-to-apple-investors/" rel="nofollow">issued a letter[/url] providing revised guidance for the company’s first-quarter 2019 earnings estimates. The new estimates are as follows:</p><ul>
<li>Revenue of approximately $84 billion</li>
<li>Gross margin of approximately 38 percent</li>
<li>Operating expenses of approximately $8.7 billion</li>
<li>Other income/(expense) of approximately $550 million</li>
<li>Tax rate of approximately 16.5 percent before discrete items</li>
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<p>Most of the numbers are not very different from the guidance the company issued back in November, but there is one big change—revenue is projected to be down about $5-9B from the company’s previous $89-93B estimate.</p><p class="jumpTag"><a href="/article/3330563/techology-business/apple-cuts-q1-2019-earnings-estimates-blames-everyone-but-itself.html#jump">To read this article in full, please click here[/url]</p></section></article>

Source: Apple cuts Q1 2019 earnings estimates, blames everyone but itself (https://www.macworld.com/article/3330563/techology-business/apple-cuts-q1-2019-earnings-estimates-blames-everyone-but-itself.html#tk.rss_all)