Their fears confirmed, investors were bearish on Apple Wednesday, the day after the company reported its slowest-growth quarter ever. The company’s shares closed the day at $93.44, down 6.55 percent. In its Q1 earnings report, Apple prepared investors for what may come next: its weakest quarter for iPhone sales in 13 years. Even worse is that the company may not see a significant boost in handset sales until the launch of the iPhone 7 later this year. Apple moved about 74.8 million iPhones during Q1, and it forecast sales of 50-52 million units during the next quarter.
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Wall Street Backs Off Apple
Posted by: Quinten Plummer January 28, 2016 12:05 AMTheir fears confirmed, investors were bearish on Apple Wednesday, the day after the company reported its slowest-growth quarter ever. The company’s shares closed the day at $93.44, down 6.55 percent. In its Q1 earnings report, Apple prepared investors for what may come next: its weakest quarter for iPhone sales in 13 years. Even worse is that the company may not see a significant boost in handset sales until the launch of the iPhone 7 later this year. Apple moved about 74.8 million iPhones during Q1, and it forecast sales of 50-52 million units during the next quarter.