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Apple Inc said sales for its fiscal second quarter would most likely be lower than Wall Street expected, a signal that it continues to face weak demand for its iPhone, especially in China, the world's biggest smartphone market.
However, Chief Executive Tim Cook, who is in regular contact with U.S. President Donald Trump, told Reuters he sees some hope that trade tensions between the United States and China have eased.
He also made upbeat comments about Apple's fast-growing services business and said the company is considering pricing its phones in local currency in China and other international markets, which may spur sales.After-hours high $162.25, last $162.00, up $7.32.
Apple shares rose 2.5 percent to $158.55 in after-hours trading.
The company said it expects revenue between $55 billion (£42 billion) and $59 billion for the current quarter ending in March, largely below analysts' average estimate of $58.83 billion, according to IBES data from Refinitiv.
For the quarter ending in December, Apple's busiest due to the holiday shopping season, Apple reported revenue of $84.3 billion, slightly above analysts' average estimate of $84 billion. Apple warned in early January that the quarter's sales would miss targets it gave in November....MORE