Letter from Tim Cook to Apple investors #Of_AppleJanuary 13, 2019
Based on these estimates, our revenue will be lower than our original guidance for the quarter, with other items remaining broadly in line with our guidance.
When we discussed our Q1 guidance with you about 60 days ago, we knew the first quarter would be impacted by both macroeconomic and Apple-specific factors.
Based on our best estimates of how these would play out, we predicted that we would report slight revenue growth year-over-year for the quarter.
Emerging Market Challenges
Our results in China include a new record for Services revenue, and our installed base of devices grew over the last year.
While Greater China and other emerging markets accounted for the vast majority of the year-over-year iPhone revenue decline, in some developed markets, iPhone upgrades also were not as strong as we thought they would be.
Also, as I mentioned earlier, revenue outside of our iPhone business grew by almost 19 percent year-over-year, including all-time record revenue from Services, Wearables and Mac.
Wearables grew by almost 50 percent year-over-year, as Apple Watch and AirPods were wildly popular among holiday shoppers; launches of MacBook Air and Mac mini powered the Mac to year-over-year revenue growth and the launch of the new iPad Pro drove iPad to year-over-year double-digit revenue growth.
Expectations are high for Apple because they should be.
That has always been the Apple way, and it always will be.
Chance is an editor for the entire 9to5 network and covers the latest Apple news for 9to5Mac. Tips, questions, typos to firstname.lastname@example.org
We also know how much our employees value giving back to the communities where we all work and live. I’m happy to announce that starting immediately and running through the end of 2018, Apple will match all employee charitable donations, up to $10,000 annually, at a rate…