Best Top Reviews Online

Apple’s Revenue Revision Gives Rise To A Second Class Action Lawsuit

Following Wednesday’s revision to Apple’s earnings estimates, a second law firm has begun investigating Apple’s public claims regarding its disclosures regarding its business in China.

Three days after Apple CEO Tim Cook revised the company’s earnings forecast for the holiday quarter, New York-based Bronstein, Gewirtz & Grossman announced that it too is investigating whether Apple has violated federal securities laws.

The law firm questions the veracity of Apple’s announcement that it expects to end the quarter with revenue of $84 billion, a 7 percent decrease from the $89 billion to $93 billion forecast issued at the end of fiscal 2018. Cook primarily attributed the reduction to weak iPhone demand in Greater China and “other emerging markets.”

As with the previous investigation, which was announced hours after the earnings revision, the company has doubts about Cook’s statement about business in China from the previous quarter.

“Last quarter, our business in China was very robust. We grew by 16%, which we are very pleased with “Cook said. The iPhone in particular experienced double-digit growth in that region.

In November and December of 2018, in addition to Apple, Intel, Ford, and other Fortune 500 companies expressed concern about the Chinese economy. Similar to Apple, Intel and Ford reported positive results from China during the September 2018 quarter.

Why Trust Us?

Best Top Reviews Online was established in 2018 to provide our readers with detailed, truthful, and impartial advice on what to buy. We now have millions of monthly users from all over the world and annually evaluate over a thousand products.

The above article was written by the BestTopReviewsOnline team, which consists of some of the most knowledgeable technical experts in the United States. Our team consists of highly regarded writers with vast experience in smartphones, computer components, technology apps, security, and photography, among other fields.

Related Stories

  • All Post
  • Best Picks
  • Explainers
  • How To
  • News
  • Versus
DuckDuckGo Switches To Apple Maps

January 15, 2019

Apple’s new MapKit JS library will power maps in search results, with the same emphasis on privacy that is characteristic of both DuckDuckGo and Apple. Last year at WWDC, Apple introduced a new mapping tool with little fanfare. MapKit JS…

Get more info



Best Products

Buying Guides

Contact Us

About Us

We provide a platform for our customers to rate and review services and products, as well as the stores that sell them. We research and compare the most popular brands and models before narrowing it down to the top ten, providing you with the most comprehensive and reliable buying advice to help you make your decision.

Disclaimer is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to As an Amazon Associate I earn from qualifying purchases.


Address & Map

20 S Santa Cruz Ave, Suite 300, Los Gatos, CA 95030, United States

© 2022 Pty. Ltd. All Rights Reserved. Licensing: All third-party trademarks, images, and copyrights used on this page are for comparative advertising, criticism, or review. As this is a public forum where users can express their opinions on specific products and businesses, the opinions expressed do not reflect those of