Apple tells suppliers to produce 10% fewer new iPhones
Cue all the armchair product strategists coming in to tell us all the mistakes Apple made in it's product line up, or $29 batteries, or some other bullshit.Look, the reason iPhone sales are slipping is because of China's recent poor economic performance.  Apple said EXACTLY that in their last earnings guidance:> While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China. In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad.( https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-... )Samsung's earnings have also been hit by similar factors: https://www.bloomberg.com/news/articles/2019-01-07/samsung-m...A slowdown in China this big is actually huge news so I'm surprised so many people are missing the forest for the trees.  It means less foreign investment capital will be coming to the West and might potentially signal another global recession.