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 Apple stock fell sharply in pre-market trading on Friday despite the technology giant <a href="https://www.apple.com/investor/earnings-call/" rel="noopener noreferrer nofollow">reporting</a> stronger-than-expected fiscal third-quarter earnings and revenue.
 <a href="https://coinpaper.com/33548/aapl-stock-rises-3-as-apple-overtakes-nvidia-as-worlds-most-valuable-company" rel="noopener noreferrer nofollow">Apple</a> shares closed Thursday at $333.43, down 1.41% for the session. The decline accelerated after the earnings release, with Apple stock falling <a href="https://www.google.com/finance/beta/quote/AAPL:NASDAQ?sca_esv=82a37564b757cef6&amp;amp;output=search&amp;amp;source=lnms&amp;amp;fbs=ABfTbFVyMZGZf1hfvX9uKjN_-G8criz-vHhGBMXT1Wuo5qw-vnCqkVYmOENloMnpswXhW8Ox5f_5GWJei6_Hg-F7iha02VgFf7UcBcuAg_cNVDCXxxE11Ux_zx27j6Vq00QQqeb4kSWlDDDb7ChgUhDeNdLcsY5ZWRzELJWcOjkGA7_dRdQd26KB038YqaAHE3BQNR4Hwg-dgprOJuoYNVfZJIVyzDhmEA&amp;amp;sa=X&amp;amp;ved=2ahUKEwiJ0-zJ6fyVAxUHdUEAHSWHJKwQ0pQJegQIExAB" rel="noopener noreferrer nofollow">approximately 7.75%</a> to $307.59 in pre-market trading.
 Apple stock price (Source: Google Finance)
 The sell-off suggests investors focused less on Apple’s quarterly earnings beat and more on its weaker-than-expected outlook, ongoing supply constraints and pressure from the global memory-chip shortage.Apple Earnings Beat Expectations 
 Apple reported fiscal third-quarter revenue of $109.42 billion, exceeding the $108.65 billion expected by analysts.
 Net income climbed to $29.79 billion, or $2.02 per share, compared with $23.43 billion, or $1.57 per share, during the same period last year. Apple said its earnings included an 11-cent-per-share benefit from tariff rebates, which means the reported figure was not directly comparable with analysts’ estimate of $1.89 per share.
 The company also reported a gross margin of 50.1%. However, that result was similarly affected by tariff rebates and was therefore not directly comparable with the 47.9% analyst estimate.
 Apple ended the quarter with approximately $146.52 billion in cash.iPhone and Mac Sales Support Revenue Growth 
 Apple’s results were driven partly by a 22% increase in iPhone sales. iPhone revenue reached $54.25 billion, slightly more than the $53.86 billion expected by analysts. Mac revenue also delivered a beat after rising to $10.35 billion compared with an estimated $8.74 billion.
 Performance across Apple’s other divisions was mixed. Wearables revenue reached $7.88 billion, narrowly beating the $7.82 billion forecast. However, iPad revenue of $6.19 billion missed the $6.92 billion estimate. Services revenue came in at $30.74 billion, below expectations of $31.22 billion.Weak Guidance Sends Apple Stock Lower 
 Although Apple exceeded expectations for the reported quarter, the company’s guidance disappointed investors. Apple expects revenue in the current quarter to grow between 9% and 11%. Analysts forecasted growth of approximately 12%.
 Management attributed the cautious outlook partly to supply constraints. Apple is dealing with a global shortage of memory components and intense competition for <a href="https://coinpaper.com/33595/kospi-stock-decline-accelerates-amid-asian-chip-market-sump" rel="noopener noreferrer nofollow">chip</a> manufacturing capacity. The pressure has already prompted the company to increase prices on some Mac and iPad products.Tim Cook Prepares to Hand Leadership to John Ternus 
 The earnings report was also CEO Tim Cook’s final earnings call before he hands leadership of Apple to <a href="https://coinpaper.com/16432/apple-names-john-ternus-as-ceo-succeeding-tim-cook-after-15-years" rel="noopener noreferrer nofollow">John Ternus</a>.
 Ternus is a 25-year Apple veteran who currently leads the company’s hardware engineering division. He is scheduled to become CEO on Sept. 1. Cook will remain with the company as executive chairman.
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Apple Stock Slides 7.75% as Revenue Growth Outlook Disappoints

Coinpaper.com

Other articles published on Jul 31, 2026

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