Why Apple Stock Fell Today
Shares of Apple (NASDAQ: AAPL) declined on Friday, following the technology giant's fiscal 2021 fourth-quarter earnings results. By the close of trading, Apple's stock price was down 1.8% after falling as much as 4% earlier in the day.
Apple's revenue surged 29% year over year to $83.4 billion. "Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro-environment," CFO Luca Maestri said in a press release.
Wall Street, however, was expecting even more. Analysts had forecast revenue of nearly $85 billion. iPhone sales, which climbed 47% to $38.9 billion, fell short of consensus estimates of $41.5 billion.
Source Fool.com
