Apple sees $111 billion in market value erased on disappointing 4th quarter iPhone sales and lack of forward guidance


  • Apple shares fell as much as 5.6% on Friday after the tech giant’s fiscal fourth-quarter figures failed to meet analysts’ expectations.
  • The slide saw as much as $111 billion erased from Apple’s market cap.
  • The company beat estimates for overall revenue and profit, but iPhone sales landed below hopes.
  • Apple’s updated phone lineup was released roughly one month later than usual, ensuring that sales of the new models will first materialize in its current-quarter report.
  • The company stopped short of providing forward guidance for the third consecutive quarter. While finance chief Luca Maestri praised new phone sales as “off to a great start,” the lack of official guidance rankled investors.
  • Watch Apple trade live here.

Apple sank as much as 5.6% on Friday after the company’s fiscal fourth-quarter report fell just short of analyst expectations.

The tech giant beat estimates

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