Apple Inc.Apple's Q4 revenue guidance missed expectations, causing worst post-earnings sell-off since 2013.
Apple shares suffered their worst single-day post-earnings sell-off since January 2013 after the company issued tepid fourth-quarter revenue guidance. Apple reported earnings of $2.02 per share as revenue rose 16% year-over-year to $109.42 billion, setting a record for the June quarter in Tim Cook's final earnings presentation, but Services revenue of $30.74 billion missed the $31.36 billion forecast. For the coming fourth quarter, Apple expects revenue to rise between 9% and 11% year-over-year, below the 12.1% growth analysts were forecasting. The slump was offset by gains in Microsoft, which surged after reporting adjusted earnings of $4.74 per share and revenue of $90 billion, with its Intelligent Cloud division posting $39.31 billion in revenue. Qualcomm plummeted after a mixed third-quarter print that featured a 4% year-over-year revenue decline to $9.95 billion and a significant drop in handset revenue.
Apple Inc.Apple's Q4 revenue guidance missed expectations, causing worst post-earnings sell-off since 2013.
Microsoft CorporationMicrosoft beat earnings estimates with strong Intelligent Cloud revenue, offsetting Apple's slump.
Advanced Micro Devices Inc
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Qualcomm IncorporatedQualcomm's mixed Q3 results showed revenue decline and drop in handset revenue.
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