Apple Shares Open Lower After Muted IPhone Sales

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Apple Shares Open Lower After Muted IPhone Sales

by Wochit 0:46 mins

Apple Shares Open Lower After Muted IPhone Sales

by Wochit 0:46 mins

Apple needs a cheaper iPhone to keep pace with low-cost rivals, analysts said, after the company's smartphone sales fell short of lofty expectations in the holiday shopping season. Shares of the world's most valuable technology company opened down 8 percent on Tuesday, a day after Apple's weak revenue forecast for the current quarter renewed fears about Chinese smartphone demand and a tepid global market.

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