… Read More
- Apple shares fell as much as 5.6% on Friday after the tech giant’s fiscal fourth-quarter figures failed to meet analysts’ expectations.
- As much as $111 billion was erased from Apple’s market cap.
- The company beat estimates for overall revenue and profit, but iPhone sales landed below hopes.
- Apple’s updated phone lineup was released roughly one month later than usual, ensuring that sales of the new models will materialize in its current-quarter report.
- The company stopped short of providing forward guidance for the third consecutive quarter. While its finance chief, Luca Maestri, said new-phone sales were “off to a great start,” the lack of official guidance rankled investors.
- Watch Apple trade live here.
Apple sank as much as 5.6% on Friday after the company’s fiscal fourth-quarter report fell