Month: January 2019

Apple on Wednesday cut the revenue forecast for its latest quarter, citing fewer iPhone upgrades and weak sales in China, and its shares tumbled in after-hours trade.    The company forecast $84 billion in revenue for its fiscal first quarter ended Dec. 29, which is below analysts' estimate of $91.5 billion, according to IBES data from Refinitiv. Apple originally forecast revenue of between $89 billion and $93 billion.    "While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in greater China," Chief Executive Officer Tim Cook said in a letter to investors. "In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in greater China across iPhone, Mac and iPad."…

Shares in Tesla dropped as much as 9 percent on Wednesday on worries of future profitability, after the electric car maker cut U.S. prices for all its vehicles to offset lower green tax credits, while falling short on quarterly deliveries of its mass-market Model 3 sedan. Analysts questioned whether the $2,000 price cut on all models signaled lowered demand in the United States, and ultimately whether the move would undermine nascent profitability at the Silicon Valley automaker, which has never posted an annual profit. "In our view, this move could suggest that what many bulls assume to be a substantial backlog ... for Tesla may be less robust," wrote Bank of America analyst John Murphy in a client note. Chief Executive Elon Musk, who has often set goals and deadlines…

Facebook has apologized for temporarily banning North Carolina evangelist Franklin Graham from its platform over a 2016 post about the state's "bathroom bill." The Asheville Citizen Times reports Facebook apologized to Graham on Sunday. Graham, the son of the late Rev. Billy Graham, said last week that the platform banned him for 24 hours in December, saying the post violated community hate speech standards. Graham said the post focused on the now-repealed House Bill 2, which required transgender people to often use restrooms matching their birth certificates. Graham said his post was about Bruce Springsteen canceling a concert over the bill and "backward progress." Graham said in the post that "a nation embracing sin and bowing at the feet of godless secularism and political correctness is not progress." ...

Amid trade wars, geopolitical tensions and a decline in public trust, the technology sector is seeking to put its problems aside with the Consumer Electronics Show, the annual extravaganza showcasing futuristic innovations. The Jan. 8-11 Las Vegas trade event offers a glimpse into new products and services designed to make people's lives easier, fun and more productive, reaching across diverse sectors such as entertainment, health, transportation, agriculture and sports. "Smart" devices using various forms of artificial intelligence will again be a major focus at CES. Visitors are likely to see more dazzling TV screens, intuitive robots, a range of voice-activated devices, and folding or roll-up smartphone displays. Also on display will be refinements to autonomous transportation and gadgets taking advantage of 5G, or fifth-generation wireless networks. But the celebration of…

Laborers milled around an unfinished eight-story building in an expansive field in Konza dotted with zebra and antelope — the only visible sign of progress in a decade-old plan to make Kenya into Africa's leading technology hub by 2030. Grandiose plans, red tape and a lack of funding have left Konza Technopolis — the $14.5 billion new city to be built some 60 km (37 miles) southeast of Nairobi — way behind schedule on its goal of having 20,000 people on site by 2020. "It has taken too long and I think people have moved on," said tech entrepreneur Josiah Mugambi, founder of Alba.one, a Nairobi-based software company, who was initially excited by the government's ambitious project. Dubbed the Silicon Savannah, Konza aims to become a smart city — using…