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April 26, 2016

Why Apple’s stock fell off a cliff today

SAN FRANCISCO, CA - OCTOBER 22: Apple CEO Tim Cook speaks during an Apple announcement at the Yerba Buena Center for the Arts on October 22, 2013 in San Francisco, California. The tech giant announced its new iPad Air, a new iPad mini with Retina display, OS X Mavericks and highlighted its Mac Pro. (Photo by Justin Sullivan/Getty Images) Apple took a more than $40 billion hit today after reporting its second-quarter earnings — and it was bleak. Shares of Apple were down more than 8 percent in extended trading at one point today. Things went about as poorly as you could expect: the company couldn’t hit revenue or earnings targets, iPhone sales fell off a cliff from the year-ago quarter and its third-quarter guidance… Read More

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