Even as Apple’s shares fell after it lowered its revenue estimate for the first quarter of fiscal 2019, US President Donald Trump has said he is not bothered about the tech giant’s concerns.
Claiming that Apple mostly makes its products in China, Trump told reporters at a White House news conference that he does not fear the impact of Apple’s stock on the US economy.
In a letter to investors on Wednesday, Apple CEO Tim Cook said that for the quarter ending December 29, the company now expects revenue of approximately $84 billion, down from the $89 to $93 billion it had previously projected.
Apple lowered its revenue guidance, which led to a fall in its stock, due to weaker than expected iPhone sales, particularly in China.