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Apple's stock drops on weak margin forecast in Ternus’ first earnings report
Apple reported better-than-expected revenue but came up short of estimates on iPad sales for the fiscal fourth quarter and issued a disappointing margin forecast. The stock slid 3% in extended trading.
AI Summary
Apple reported fiscal fourth‑quarter earnings after the bell on Monday, marking the first earnings call led by new CEO John Ternus. The company’s revenue is projected to rise 11% from $102.5 billion a year earlier. Analysts estimate iPhone sales of $56.59 billion for the quarter.
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