Apple Falls After IPhone Sales Miss Estimates, China Drops 29%

(Bloomberg) — Apple Inc. shares fell about 4% after the company reported iPhone sales that missed Wall Street estimates and a slump in revenue from China. The company gave no forecast for the key holiday quarter. However, Chief Executive Officer Tim Cook said the new iPhone 12 line has been well received. Sales of Macs and Services reached all-time highs in the quarter, leading the record fourth quarter.The Cupertino, California-based technology giant on Thursday said fiscal fourth-quarter sales came in at $64.7 billion, a record for the period. That beat analysts’ estimates of $63.5 billion, according to data compiled by …read more

Source:: Yahoo Finance


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