Apple Investor Anxiety Drives Must See Tech Stock Action
Apple Inc. (NASDAQ:AAPL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Net income increased 0.28% to $13.1 billion ($13.81 per diluted share) in the quarter versus a net gain of $13.06 billion in the year-earlier quarter. Revenue rose 17.63% to $54.5 billion from the year-earlier quarter.
Apple Inc. (NASDAQ:AAPL) reported adjusted net income of $13.81 per share. By that measure, the company beat the mean analyst estimate of $13.44. It missed the average revenue estimate of $54.73 billion. Investor brushed off the very fact that Apple’s quarter was the fourth-most-profitable quarter delivered by any company in history! Here’s how the stock traded after earnings were reported: