It’s official: iPhones are too expensive

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Yikes! Talk about not starting 2019 off on the right foot.

After briefly halting trading of its stock on Wednesday, Apple CEO Tim Cook shared a letter with investors revising the company’s guidance for revenue for the first quarter of 2019. 

Cook pins the lower revenue projections on a number of factors, including “challenges in emerging markets” and “economic deceleration, particularly in Greater China,” as well as factors like “US dollar strength-related price increases” and customers choosing to replace their existing iPhone batteries instead of buying new iPhones. 

Of course, there’s no one reason why Apple’s making less money. But it mostly boils down to pricing. Read more…

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