Apple plunges after missing forecasts
Mike Yamamoto | email@example.com
The company reported net income of $9.32 per share for its fiscal third quarter, well short of the consensus forecast of $10.35 EPS. Revenue came in at $35 billion, under the $37.2 billion that analysts had been looking for.
Early analysis on the report indicates that worse-than-expected iPhone sales may have been responsible for much of the shortfall. Apple said 26 million of the handsets were sold, below the consensus estimate of 29 million.
AAPL fell 0.48 percent yesterday to close the regular session at $600.92. Shares were under $570 at the time of this writing, down more than $32, or about 5 percent.