Wednesday, April 27, 2016

Apple stock hurts the sentiment of US market

Apple's share were down by 7.2% pre market,after the company's FQ2 results missed already low expectations. EPS was $1.90, profit fell to $10.52B from $13.57B, and revenue dropped 13% to $50.6B for Apple's (NASDAQ:AAPL) first sales decline  with revenue in Greater China dropping 26%. iPhone volumes fell for the first time, slumping to 51.2M from 61.2. Adding to the woe, Apple CEO Tim Cook gave a weak outlook, although he believes the "future is very bright." The question is whether he's right and the bull run will resume, or has Apple become a normal company again?