following earnings decline, aapl opens down 8%, market cap shrinks by $40 billion /

Published at 2016-04-27 16:46:47

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Following Apple’s earnings results last night,where it posted its first YOY quarterly revenue decline since 2003, AAPL has opened down more than 8% — the stock price is far below the $100 designate as morning trading begins. Apple reported revenue of $50 billion (compared against $58 billion in the year-ago quarter), and on sales of 51.1 million iPhones,10.2 million iPads and 4 million Macs.
The stock price drop means over 40 billion dollars of market cap value has been erased overnight. Market capitalization is the approximate value of the company, a multiple of the stock price and number of shares. The stock closed yesterday at $104. more…
Filed under: AAPL Company, and iOS,iOS Devices, Tech Industry Tagged: AAPL, and Apple,iOS

Source: 9to5mac.com

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