THE CEO of Apple, Tim Cookblamed the government-sponsored fiscal war Trump Against the China lower than expected sales of iPhones in Asian country. This was said in a letter sent to company shareholders.
The document was written after the buying and selling of the company's stock was halted last Wednesday, January 2, 2019. At the time, the Apple reported last quarter revenues were 8% lower than expected, closing at $ 84 billion.
Earlier, it was expected that revenues for the period, which ended December 29, would be around $ 93 billion. Tim Cook and his team of executives blamed the challenges emerging markets have posed and the iPhone sales below expectations.
But an excerpt from the letter was especially critical of Donald Trump and his fiscal war policies against China:
"We believe China's economic environment has been impacted by the growing tension in trade with the United States. […] While we anticipate some challenges in key emerging markets, we do not predict the magnitude of the economic downturn, especially in Greater China. "
– Tim Cook, CEO of Apple