Apple Shares Lose 7% in After Hours Market on December Guidance

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Upside Down $AAPLShares of Apple, Inc. dropped in after hours trading in the wake of Apple’s December quarter guidance. Though the company turned in a record September quarter, the average of Apple’s guidance for revenues between $89 billion and $93 billion was below Wall Street expectations of $92.94 billion.

Shares of $AAPL ended the regular trading day at $222.22, a gain of $3.36 (+1.54%), on heavy volume of 56.1 million shares trading hands.

Apple traded at $206.46 in the after hours market, a loss of $15.76 (-7.09%). Trading in the after hours market is often amplified compared to regular trading sessions, but that’s a significant sell-off for $AAPL.

Apple reported record September quarter revenues of $63.9 billion, with record earnings of $14.2 billion. This compares to $52.6 billion in the September quarter of 2017, with earnings of $10.7 billion.

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John Kheit
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John Kheit

Also has to do with Apple shocking announcement that it will stop reporting on iPhone unit sale numbers, which reeks of desperation to hide flattening unit sales volume. Not good.

palmac
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palmac

As opposed to the moronic iPhone forecasts of doom from analysts? Good move on Apple’s part, Wall Street was too obsessed with the iPhone as the single indicator of Apple’s health, totally ignoring everything else that’s growing faster than anything else in the tech industry.

brilor
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brilor

AFAIK, their announcement included iPhones, iPads, and Macs, so it’s a fairly sizeable transparency reduction.