Apple Blames China For Struggles

Apple lowered its first-quarter guidance Wednesday and cited slowing growth in China in an unexpected update to investors. That follows economic data pointing to a slowdown in the country. Watch Apple trade in real time here. China's economy is losing steam. In a letter lowering Apple's revenue forecast Wednesday, chief executive Tim Cook partly blamed weak sales in the second largest economy and said the company hadn't anticipated the degree of deceleration taking place.