Apple has issued a profit warning blaming a weak PC market and slow European and Japanese sales.
The company expected to make more than $1.6bn in the third quarter but now thinks it will make between $1.4bn and $1.45bn.
Chief executive Steve Jobs said in a statement: "Like others in our industry, we are experiencing a slowdown in sales this quarter.
"As a result, we're going to miss our revenue projections by around 10 per cent, resulting in slightly lower profits."
Weak markets in Europe and Japan were offered as the main reasons for the reduced outlook, along with poor demand in the consumer and creative markets, such as advertising and publishing, which are traditional Apple stomping grounds.
However, Jobs remained optimistic for Apple's long-term future. "We've got some amazing new products in development, so we're excited about the year ahead as we're one of the few companies currently making a profit in the PC business," he said.
Apple shares slipped on the back of the announcement, falling two per cent to $20.15 on the Nasdaq exchange.
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