Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
The benchmark 10-year Treasury note yield tested 1.5% in late August and early September, bouncing off that level and most recently trading around 1.8%. However, another...Marketsread more
Overpriced iPhones, anemic innovation and market saturation forced Apple on the first trading day of the year to take a bite out of its revenue guidance, analysts and investors told CNBC on Thursday.
After cutting fiscal first-quarter guidance by about 8 percent on Wednesday, CEO Tim Cook heaped much of the blame on China's economy and Sino-U.S. trade relations in a preliminary disclosure.
Apple bull Gene Munster, who predicts the tech giant will be a top performer in the so-called FAANG group, said the cut is not because of competition or a shift in consumer needs.
"This is caused by some issues around economics and some mistakes the company's made around aggressively pricing their phones," the Loup Ventures founder said on "Squawk Box." "They jumped the price [of iPhones] by 23 percent this fall."
Apple reduced its revenue estimates, from as much as $93 billion to $84 billion, along with gross margin. The decrease was driven, among other factors, by weaker-than-expected iPhone sales in emerging markets with a shortfall coming "primarily in greater China," Cook said in an interview with CNBC's Josh Lipton on Wednesday.
But AlphaOne Capital Partners' Dan Niles, who turned sour on the stock last May, told CNBC on Thursday that many of the challenges Cook pointed to were already known halfway through 2018. He scolded Apple for having the "wrong strategy" in raising iPhone prices in emerging markets, including Brazil, Russia and India.
"Part of the issue here is that Apple's not acknowledging the real problems that they have," Niles said later on "Squawk Box."
Apple misfired in jacking up average selling prices and releasing a software update prematurely while facing pressure from a Qualcomm lawsuit, Niles said. Apple is also behind schedule on a 5G phone launch at a time when carriers are prepared to push out the 5G network, Niles said, and when the cell phone market is shrinking "for the first time in history, and it will probably shrink even further in 2019."
"They're kind of behind on the technology ... you can't fix the problem until you acknowledge what the problems actually are or you recognize them," he added.
Niles said the stock is not attractively priced from a long-term perspective because the company was going in the "wrong direction for an economy that's slowing down" and he expects the phone market to see contraction "for several more years."
Shares of Apple touched a 52-week low of $142.08 in midday trading.
The company's iPhone sales woes are compounded by the fact that customers have held on to their devices longer than they have in the past, New Street Research's Pierre Ferragu told CNBC. Ferragu, head of New Street's global technology infrastructure research team, attributes just 20 percent of Apple's weaknesses to China's economy and the rest to demand for its products.
The firm in August downgraded Apple to sell because the iPhone X caused a spike in upgrades that sucked up demand for future generations this year.
"We have to be more cautious" because demand is becoming a headwind, Ferragu said Thursday on "Squawk on the Street."
"Innovation is slowing down in the way it's perceived by consumers ... [and] these iPhones are getting more and more expensive ... and so you think of it twice before refreshing your hardware," he added.
Ferragu said his firm has since cut its price target from $165 to $140 but acknowledged that revenue is growing elsewhere at the company largely because of its services business.
"What we think is that Apple doesn't have any specific ... further downside risk, so we upgraded to neutral, but our price target is $140 as we think the stock is where it should be now," he said.
Apple's stock is effectively in bear territory, falling nearly 40 percent from a high of $233.44 in October.