According to Business Insider, Apple sent shockwaves through equity markets around the world after renewing its first-quarter revenue forecast.
For the first time since Apple started making the iPhone, the tech company warned investors that lower phone sales will cut their revenue forecast.
Initially estimated at $93 billion for the first-quarter of 2019, Apple expects to pull in $84 billion in revenue.
The news led to a rout on Wall Street, with Apple shares dropping by 9-percent.