Apple Takes Bite Out Of Wall Street

In its first profit warning in more than a decade on Wednesday, Apple said its revenue will be up to $9 billion lower than originally anticipated in the first quarter of its 2019 financial year. Wall Street analysts responded by almost universally reducing price targets. Some said Apple's issues were worse than feared, while others said it exposes serious structural issues at the company. Apple gave Wall Street a nasty surprise on Wednesday when it issued its first profit warning in more than a decade.