Why apple is down after 😭 report

For the three months that ended on July 1, the Cupertino, California-based business generated earnings per share of $1.26 on sales of $81.8 billion. Apple was anticipated to earn $1.20 per share on sales of $81.8 billion by analysts surveyed by FactSet. Apple’s earnings rose 5% year over year while its sales fell 1%.

With these findings, Apple’s sales fell for the third consecutive quarter. However, after two straight quarters of flat or declining revenues, earnings started to increase.

Apple Stock Retreats After Report

According to a news release from the chief financial officer, “Our business performance from the March quarter to the June quarter improved year over year.” We produced a very healthy operational cash flow of $26 billion during the quarter, returned over $24 billion to our shareholders, and kept up our investments in our long-term growth plans.Today’s stock market after-hours trade saw Apple shares drop 1.5% to 188.39. The price of Apple stock fell during Thursday’s regular session, dropping 0.7% to settle at 191.17.

AAPL is down -0.73% to $191.17. Check it out on Yahoo Finance: https://finance.yahoo.com/quote/AAPL.

Apple’s hardware sales dropped 4.4% year over year to $60.58 billion in the June quarter, but its services income increased 8.2% to $21.21 billion.Apple’s iPhone sales, which made up 48% of the company’s overall revenues, fell 2% to $39.67 billion.Apple’s Mac computer sales, meanwhile, decreased 7% to $6.84 billion. And sales of its iPad tablets fell by almost 20% to $5.79 billion.

Positively, Apple’s wearables, home, and accessories division’s revenue increased 2% to $8.28 billion in the June quarter.

history of apple company

https://en.m.wikipedia.org/wiki/Apple_Inc.

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