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Added on the 27/04/2016 07:19:54 - Copyright : Reuters EN
On Friday, Apple shares fell as much as 5.6%. The drop comes after the tech giant's fiscal fourth-quarter figures failed to meet analysts' expectations. Business Insider reports the slide saw as much as $111 billion erased from Apple's market cap. The company beat estimates for overall revenue and profit. iPhone sales were well below Apple's expectations. Apple's updated phone lineup was released roughly one month later than usual. The delay almost guaranteed sales of the new models will first materialize in its current-quarter report.
Apple's iPhone sales have grown after four quarters of decline.
Apple credits demand for the iPhone 11 for its record sales and profits.
Apple has sold less iPhones than expected - and it will no longer reveal unit sales of its major devices.
Samsung Electronics are slashing production at its OLED panel plant following poor sales of the iPhone X.
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