Apple Shares Slip After Company Issues No Forecast

(Bloomberg) — Apple Inc. reported quarterly revenue that grew 1%, but didn’t provide a forecast for the first time in more than a decade, sparking concern about performance later this year. The shares slipped 1.5% in extended trading.Chief Executive Officer Tim Cook said Apple experienced a “very depressed” period in late March and early April, in the depths of the Covid-19 pandemic, but saw a “pickup” in the second half of this month. The company also increased its share buyback plan by $50 billion.Fiscal second-quarter sales came in at $58.3 billion, compared with $58 billion a year earlier. That beat …read more

Source:: Yahoo Finance


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