BREAKING: Apple warns that iPhone sales are slowing, and trade tensions with China are to blame
Apple CEO Tim Cook said in a public letter to investors on Wednesday that slowing iPhone sales would show up in the company's upcoming earnings report.
Without naming President Donald Trump, Cook said that the administration’s trade battles with China had played a role. “The trade tensions between the United States and China put additional pressure on their economy,” he told CNBC.
Apple shares dropped about 7 percent in after-hours trading.