Apple inventory plummets as iPhone Maker gross sales fall once more

shopper electronics large apple (AAPL) late Thursday beat Wall Road’s earnings goal for the fiscal third quarter with matching views for gross sales. Apple inventory fell in prolonged buying and selling.


The Cupertino, California-headquartered firm earned $1.26 a share on gross sales of $81.8 billion for the quarter ended July 1. Analysts polled by FactSet had forecast Apple earnings of $1.20 per share on gross sales of $81.8 billion. On a year-over-year foundation, Apple’s income elevated by 5% whereas gross sales decreased by 1%.

Apple’s outcomes marked the third consecutive quarter of declining gross sales. Nonetheless, earnings have returned to progress after two consecutive quarters of flat or declining earnings.

In after-market buying and selling at this time, Apple inventory fell 0.7% to 189.79. Throughout the common Thursday session, Apple’s inventory fell by 0.7%, closing at 191.17.

Earnings report particulars to comply with.

Apple inventory is listed on the IBD Tech Leaders Record.

Comply with Patrick Seitz on Twitter at @employee For extra tales on shopper applied sciences, software program and semiconductor shares.

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