Apple shares sink as Xmas sales forecast disappoints
Apple shares have plunged in after-hours trading after the iPhone maker's forecasts for revenues in the the crucial Christmas period missed expectations. The company's boss Tim Cook said it expected a series of headwinds to weigh on growth in the coming months.He said they included weakness in emerging markets, an expected $ 2bn cost from unfavourable foreign exchange rates and uncertainty over whether it could keep up with demand for new products.Its fourth quarter results, covering the three months to October, showed Apple sold fewer iPhones than analysts had expected - almost 47 million - but revenues and profits all smashed forecasts.Revenue was up 20% on a year ago at $ 62bn while profits rose 41%.Its iPhone sales in the final three months, which tends to be the weakes...