Apple Stock Down 10% in After Hours Trading Amidst Concerns of Flat Growth
After reporting record-breaking quarterly revenue and profit earlier today, Apple's stock has taken a 10% tumble in after hours trading. Apple posted a $13.1 billion profit for the quarter this year compared to a $13.06 billion profit in the same quarter of last year, yielding flat growth year over year.
The flat growth, as pointed out by Apple, is largely because manufacturing costs have risen, even as revenue has risen 18%. The New York Times notes that analysts were worried that about Apple's profit margins, even after Apple warned that a significant overhaul of its product line would mean high manufacturing costs in the early lives of the products.
The results arrived with an unusual level of anticipation, even for a company as high-profile as Apple, because of anxiety among some investors about Apple’s ability to sustain its growth and create new hit products. Apple’s stock has lost about a quarter of its value since September, erasing more than $170 billion of its market value.
Business Insider notes that even though Apple's holiday quarter in 2012 had a week less than it did in 2011 that sales growth still wouldn't be at the point that it was.
Apple's 10% stock decline gives it a current market cap of $463.49 billion and a loss of nearly $50 billion in market capitalization from worried investors. Despite analysts' and investors' worries of year-over-year growth, The Wall Street Journal's Tom Gara notes that Apple's losses in market cap today were roughly equal the value of two Research in Motions and two Nokias.
Popular Stories
Apple's annual four-day Black Friday through Cyber Monday shopping event is returning on Friday, November 28 through Monday, December 1 in many countries, including the United States, Canada, Australia, New Zealand, France, Germany, Italy, Spain, the United Kingdom, Belgium, the Netherlands, Sweden, Thailand, and others.
During the shopping event, customers can get an Apple gift card with...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max.
One thing worth...
iOS 26.2 is currently in beta testing. The upcoming update includes a handful of new features and changes on the iPhone, including a new Liquid Glass slider for the Lock Screen's clock, offline lyrics for Apple Music, and more.
In a recent press release, Apple confirmed that iOS 26.2 will be released to all users in December, but it did not provide a specific release date.
Keep reading...
Apple has begun selling the Hikawa Phone Grip and Stand, a new limited-edition iPhone accessory designed with accessibility in mind.
Designed by LA-based Bailey Hikawa to celebrate the 40th anniversary of accessibility at Apple, the grip uses magnets to securely snap onto any iPhone with MagSafe.
Apple says it can be removed with ease, and doubles as a stand with two different viewing...
Apple's eighth-generation iPad mini is highly likely to arrive next year, offering a significant refresh of the device with at least four major new features.
OLED Display
The next-generation version of the iPad mini could feature an OLED display, as part of Apple's plan to expand the display technology across many more of its devices. Apple's first OLED device was the Apple Watch in 2015, ...
Apple today announced an expansion of AppleCare+ coverage in India, with new options for monthly and annual plans, and the addition of Theft and Loss for iPhone for the first time.
Options for monthly and annual AppleCare+ plans in India provide more choice and flexibility, allowing users to keep coverage for as long as they require. Apple's vice president of Worldwide iPhone Product...
Apple Watch owners have been voicing their frustration online over changes to the Workout app that Apple introduced in watchOS 26, with many finding the redesigned interface makes starting exercises difficult and exasperating.
When Apple launched watchOS 26 in September, the Workout app went from large, easily tapped workout tiles to a scrolling, corner-button interface. Instead of tapping a ...
Black Friday is just over a week away, and iPad deals have finally started to flood in at retailers like Amazon and Best Buy. Below we're tracking discounts on every current generation iPad, including lowest-ever prices on M3 iPad Air and M5 iPad Pro, plus steep markdowns on iPad and iPad mini.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a ...
In select U.S. states, residents can add their driver's license or state ID to the Apple Wallet app on the iPhone and Apple Watch, and then use it to display proof of identity or age at select airports and businesses, and in select apps.
Earlier this week, Illinois became the 13th state in the U.S. to offer the feature. Subsequently, we shared a list of additional states that are committed...
