Apple shares fall 4.5% after-hours despite beating revenue and earnings
Apple's stock dropped 4.5% in after-hours trading, despite the company beating expectations with $114.48 billion in revenue and $2.10 per share earnings for the quarter.
The dip came because Apple's forecast for next quarter (7% to 10% revenue growth and gross margins around 45% to 46%) fell short of what Wall Street hoped for, leaving investors a bit underwhelmed.
Apple iPhone and Mac sales outperformed
iPhone and Mac sales outperformed, but iPad and some other products didn't quite hit the mark.
Wearables met targets, while China sales jumped 21% to $17.5 billion but still missed estimates by $1 billion.
new CEO John Ternus sounded upbeat about what's next, pointing to new products coming in 2027, recent price hikes, and even a small boost from tariff refunds, all signs Apple is focused on bouncing back stronger.