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How does Apple hide the decline in demand?
April 19 news, according to foreign media reports, apple today encountered a class action in the United States, accused of securities fraud. The lawsuit alleges that apple is hiding the decline in iPhone demand, especially in the Chinese market. In addition to apple, Apple CEO Tim Cook and apple CFO Luca Maestri were also named as defendants in the class action lawsuit. Apple has yet to comment.
The lawsuit was filed by Michigan's pension plan and the city of Roseville employees & amp; retirement system in Oakland, California, asking apple to sue Tim & amp; middot; s; Investors who bought shares of the company in the two months before cook's January 2 letter were compensated.
On January 2 this year, Tim & middot; cook issued an open letter to lower Apple's quarterly revenue forecast by $9 billion, the first time Apple has lowered its quarterly revenue forecast since the launch of the iPhone in 2007. Meanwhile, apple attributed the expected decline in iPhone sales to the downturn in economic and industrial development, especially in China.
The day after the announcement, Apple's share price fell 10%, 40% below the $1.1 trillion high it hit three months ago.
According to the lawsuit, apple stopped publishing iPhone sales data in November last year, and the decline in iPhone demand caused apple to cut new iPhone orders from suppliers and reduce inventory by reducing prices. However, apple did not disclose the content at that time. In addition, when talking about Apple's performance in emerging markets, cook mentioned the downward pressure on sales in Brazil and India, but said 'I will not include China'.
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