https://apnews.com/bd55e7ab4ef64efda09ea1d96db7c6e6

SAN FRANCISCO (AP) — Apple warns that disappointing iPhone sales will cause a significant drop in its revenue over the crucial holiday season compared to earlier projections.

CEO Tim Cook made the announcement after the market closed Wednesday. It embodies some of the worst fears of investors, who have been dumping Apple shares amid signs that the latest iPhone models weren't living up to expectations.