In a word, China. Myles Udland with details, but with no explanation on why it’s not bad for Apple’s competitors. Strange, that.
Earlier this week, China reported better-than-expected gross-domestic-product growth in the second quarter, growing 7% against expectations for a 6.9% expansion. But even this growth rate is China’s slowest in over two decades.
And now Apple’s disappointing quarter may be confirmation that China’s economy is not only slowing, but slowing more dramatically than markets expect.
Disappointing quarter? Record revenues and profits, a big part of which came from China, and that’s disappointing? How so? Market analysts guessed too high. Why isn’t the headline, “Stock market analysts missed estimates again!“