“Apple earnings fell short of Wall Street’s expectations as the European economy sagged and consumers held off buying its flagship iPhone ahead of a new version expected in the fall,” Krudy reports. “Shares dropped 4.9 percent in premarket trading.”
Krudy reports, “Wall Street stocks fell on Tuesday, hit by signs the euro zone crisis is worsening and evidence that Europe’s slowdown is hurting U.S. companies, including bellwether UPS.”
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Apple’s earnings miss could take down the stock market – July 24, 2012
Apple misses estimates with $9.32 EPS on $35.0 billion revenue – July 24, 2012