He said he expects first-quarter revenue to be around $84 billion, compared with previous guidance of revenues between $89 billion and $93 billion.
Apple halted after-hours trading of its shares briefly on Wednesday afternoon to announce to shareholders that it had a worse-than-expected holiday quarter.
And while Apple noted its Q1 revenue excluding the iPhone was up 19% year over year, which BMO said surpassed its expectations, the firm added "we do not believe these businesses are big enough to offset the negative iPhone sentiment".
Apple CEOTim Cook did lay out a plan for turning around Apple's fortunes going forward.
"We did not foresee the magnitude of the economic deceleration, particularly in Greater China", Cook wrote.
Cook said the iPhone "accounts for all of our revenue shortfall", whereas other products in Apple's lineup such as the Mac and iPad are seeing strong growth. It was the first time since June 2002 that Apple issued a reduction in its quarterly revenue forecast. They have fallen 32pc from an October peak.
The fact that Apple took the dramatic step of halting trading is an indication that the company was taken by surprise by the iPhone sales shortfall.
"This is Apple's darkest day during the Cook era, " Wedbush Securities analyst Daniel Ives said.
Automakers such as Ford Motor Co, Hyundai Motor Co and Nissan Motor Co all previously said they planned to cut production in the country.
The world's second largest economy, China is feeling the effects of a darkening trade outlook and government attempts to rein in risky lending after a rapid rise in debt levels. "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", Cook wrote in a long-winded letter to investors.
Cook also acknowledged that consumers in other markets aren't buying as numerous latest iPhones, released last fall, as Apple had anticipated.
"We've started a program worldwide where we dramatically lower the battery replacement price". A survey past year found that more customers were buying the cheaper iPhone 8 rather than the pricier iPhone X, perhaps signaling that people weren't willing to pay up for the latest bells and whistles.
In November, the company said it would stop reporting unit sales data for iPhones and other products. Revenues for all of its other categories - Services, Mac, iPad and Wearables/Home/Accessories - collectively grew nearly 19 percent year-over-year.
She then went online, sending out pleas for assistance over Twitter , and also barricaded her hotel room door. Meanwhile, Human Rights Watch called on the Australian government to allow Alqunun's entry into that country.
She must also move past a widely panned October release of a DNA test meant to bolster her claim to Native American heritage. Vice President Mike Pence administers a ceremonial Senate oath during a mock swearing-in ceremony to Sen.
US President Donald Trump wants the Democrats to approve funding for a wall to end a government shutdown. The number of illegal border crossings is down from 1.6 million in 2000 to less than 400,000 past year .
In Israel on Sunday, Bolton said US troops will stay in the northeast Syria until Turkey agrees not go after the Kurdish forces. Israeli Prime Minister Benjamin Netanyahu shakes hands with White House National Security Adviser John Bolton.
Taylor has made clear that he expects results this season, but I thought Thibs would get the entire year to show them. Overall with the Timberwolves, he performed quite well finishing 19-21 this season and 97-107 overall.
Tom Brady and the New England Patriots have a battle on their hands against Phillip Rivers and the Los Angeles Chargers . Patrick Mahomes and the Chiefs (12-4) earned the No. 1 seed in the AFC for the first time since 1997.
In the wake of the recent bin deaths, however, the company has suspended manufacturing until it can conceive of a safer design. It's the second death involving a donation bin in the span of a month and at least the eighth such incident since 2015.
Arsenal are interested in signing Barcelona midfielder Denis Suarez in a swap deal for Aaron Ramsey, according to The Express . The same report claims that Emery was key to Suarez's decision, as he managed the midfielder during his time at Sevilla .
Daryl Osby, the Los Angeles County Fire Chief, said in November: "We're in extreme climate change now". The utility said it's doing all it can to reduce wildfire risks.
Kelly Manager For Threatening Victims Father
Kelly won three Grammys that year for "I Believe I Can Fly", a song that would be sung at churches and graduations across the U.S. After airing Thursday through Saturday, the documentary grabbed not only the attention of the media, but also law enforcement.
Google Brings Assistant to Google Maps
Unfortunately, the American tech giant has not yet discussed plans to add the feature to the Google Assistant on smartphones. Sonos first announced that it was working with Google when it introduced the Sonos One speaker in late 2017.
Kevin Spacey denies sexually assaulting teen on Nantucket
During a nine-minute hearing, Spacey was ordered to stay away from and have no contact with the alleged victim or his family. Spacey is also the subject of criminal investigation in Los Angeles and in England for other alleged sexual assaults.