- Apple reported third-quarter revenue of $109.4 billion, up 16% year over year, with iPhone revenue rising 22%.
- Apple shares sank more than 9% after the earnings report despite the company beating top- and bottom-line expectations.
- Services and Greater China sales fell short of expectations, while the company’s forecast and increasing memory-shortage impact weighed on investor sentiment.
Quotes
“What happened: Apple (AAPL) stock sank more than 9% on Friday.”