Here’s how Wall Street is reacting to Apple’s nasty Wednesday surprise

In case you’ve missed the big news, Apple severely lowered its revenue guidance for Q4 ’18 (fiscal Q1 ’19), expecting $84 billion in revenue in stark contrast with the expected $89-$93 billion. This nasty forecast was shared by Tim Cook in a letter to Apple investors, with the reasons being fewer iPhone upgrades and emerging markets’ economic weakness. The strong US dollar, supply constraints for the newest Apple Watch, and the iPhone battery replacement program were also pointed out as culprits for the company’s lowered guidance.

As a result, stocks are down 8.5%  in the pre-market …

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