Apple just reported record profits, but it’s come with a huge warning about the economy.
“We’re seeing extreme conditions unlike anything we have experienced before just about everywhere we look,” Apple CEO Tim Cook said on a call Tuesday evening with analysts.
The fact that Cook was willing to be that blunt is telling. Most CEOs are optimists. For much of 2015, Cook repeatedly stressed he wasn’t seeing much of an impact from the turmoil in China and other emerging markets. Now it’s a different message.
