Apple announced a downturn in expected revenue, and the market choked. Which followed on the heels of the Facebook stock plunge as a result of its myriad privacy issues.
What happened? Let’s look at the Apple playbook: for years, Apple has released a new iOS ahead of the sales of a new phone. The new iOS slows down older phones, in order to induce people to buy the new one. Which might have a few new features, but not enough to warrant the purchase of a new phone, save that the older models are now artificially slower.