Investors expected lower revenue from the Cupertino, California company's bestselling product after delays left loyal fans clasping wallets shut while waiting weeks longer than usual to upgrade. But the hold-back was even worse than analyst had expected, with iPhone sales dropping 20.7% to $26.4 billion. (Filepic - The Apple store in New York.)
Apple Inc's announcement Thursday that iPhone sales were weaker than expected sent shares down 5.9% even as the tech company's revenue and profit did better than Wall Street expected thanks to booming Mac and AirPods sales.
Investors expected lower revenue from the Cupertino, California company's bestselling product after delays left loyal fans clasping wallets shut while waiting weeks longer than usual to upgrade. But the hold-back was even worse than analyst had expected, with iPhone sales dropping 20.7% to $26.4 billion.
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