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|Apple (AAPL) unexpectedly slashed its revenue forecast for the fiscal first quarter of 2019, citing weakness in China and lower-than-anticipated iPhone revenue. |
The company said in a filing Wednesday that it now sees first-quarter revenue of about $84 billion, from $89 billion to $91 billion anticipated previously.
Trading was halted for Apple shares at about 4:25 p.m. ET in advance of the release of the announcement. The stock declined 8.49% to $144.51 per share when trading resumed 25 minutes later, hitting the lowest level since July 2017.