Apple cuts its revenue forecast for the 1st time in nearly 20 years
Apple has cut its revenue forecast for the first time in almost 20 years and blamed weaker demand in China for it. Apple's sales will be about $84 billion in the quarter ended December 29, down from estimates of up to $89-$93 billion, Apple CEO Tim Cook said. Apple posted $88.3 billion sales in the first quarter a year earlier. 