This news would have been a press release in years gone by. To me, this smells like desperation to save their largest shareholders from the poor results they are about to deliver in financials on Thursday. Now reporting to cost-cutting and comparing devices vs 2 year old versions.

This is a company (like countless others) in stagnation. Absent of innovation and facing insanely challenging headwinds ahead. Get ready for the darling of U.S. markets to drag down all indices towards week end. They are going to be shipping fewer and fewer units in the years ahead, sales have cratered. I suspect we'll see that in the financials this week. Mac sales down ~25% or thereabouts. iPhones probably -15%. People are already 'making do' with 3/4/5/6 year old devices for the foreseeable.

This chart image below was from my SN post from earlier this month. All U.S. stocks, and in particular Apple & Nvidia, are about to feel the weight of gravity. A proper drawdown. If you own any remaining stocks, my advice would be to sit in cash for the next 6-9 months. If you have pensions, take control of them so you can decide where to put that cash. If you wish to participate, take a short position in U.S. stocks. This is gravity for U.S. markets, no stopping these headwinds.

How is the American/European consumer going to fund these new 'improved' devices? How is Apple going to avoid China banning their products in any trade dispute? It's over, Tim.