FIRST AIRED: November 2, 2018

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Transcript

00:00:01
>> Apple on Thursday, warned that sales of it's iPhone, iPad and other products for the crucial holiday season would likely come up short of Wall Street expectations. Reuters' Apple correspondent, Stephen Nellis.>> Investors were watching this quarter really closely for the forecast, because they wanna know if Apple is gonna sell a whole lot of iPhones and iPads and other stuff over the holidays.
00:00:22
This is traditionally the biggest single quarter in all of Apple's fiscal year. It's people buying presents for the holiday season, and it's a make or break time. And Apple is saying it might be a break.>> We have the strongest line-up by far.>> Reuters on Thursday interviewed CEO Tim Cook, who blamed the dim forecast on weakness in emerging markets, volatility in foreign exchange, and the timing around the release of its new iPhones.
00:00:46
And Nellis says the timing issue is what investors may have been spooked by.>> One of the reasons Apple gave for the gloomy forecast for the holiday season is the fact that it actually sold more phones than it usually would have in this quarter that just ended. And that's because the iPhone XS and XS Max actually went on sale in late September.
00:01:05
So there were several days of people who are super fans of Apple buying up those phones and actually making the results this quarter a little better than analysts had expected, which the company says is actually gonna make next quarter's results essentially a little bit worse>> Apple's cautious forecast could reignite investor fears of a weakening outlook in tech.