At least four firms reduced their share price forecasts for the iPhone maker by more than 15 percent after Chief Executive Officer Tim Cook said Wednesday that the company expects sales of about $84 billion in the quarter ended Dec. 29, down from earlier estimates of $89 billion to $93 billion. The new estimate would mean Apple is reporting a holiday quarter slowdown for the first time since Cook became CEO in 2011. KeyBank Capital Markets was less optimistic after the forecast cut, noting that the company is facing large risks around its pricing for iPhones and monetization of the App Store.
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