“U.S. stock futures slumped Wednesday, hurt by Apple Inc.’s 8% premarket drop after the largest company by market value delivered quarterly results that disappointed investors,” Victor Reklaitis reports for MarketWatch.
“S&P 500 futures fell 5.40 points, or 0.3%, to 2,083, while Dow Jones Industrial Average futures dropped by 41 points, or 0.2%, to 17,878. Nasdaq-100 futures fell by 50 points, or 1.1%, to 4,402.5,” Reklaitis reports. “Apple late Tuesday said profit fell to $1.90 a share in its fiscal second quarter, missing Wall Street’s forecasts for $2 a share, as quarterly revenue declined for the first time in 13 years, dropping 13% to $50.55 billion. Analysts polled by Thomson Reuters had expected revenue of $51.97 billion.”
Reklaitis reports, “CEO Tim Cook described the three-month period as ‘a challenging quarter,’ representing a ‘pause in our growth.'”
Read more in the full article here.
MacDailyNews Take:
We’re very optimistic that this too shall pass, and that the market, and particularly [we], will grow again. – Apple CEO Tim Cook, April 26, 2016
A pause in our growth. Lol.
Growth can mean something other than bigger. I’m growing as a human being every day, as a father, as a husband, and I’m not getting bigger, though I am getting more adept and insightful.
I suggest that APPLE IS GROWING at an extraordinary clip at this very moment, perhaps more and faster than they have in most of their existence.
Bingo. Right on.
Cook’s words are just that words. Words every CEO uses in these situations. Apple does really need to show more innovation. Is it me or is Apple becoming more Googly like in its R&D and Googly becoming more Apple like in it’s approach.
Steve Job’s ability to make people aspire to works beyond their own dreams is absolutely unique. A very few individuals in history seem to be able to do this.
MDN, you used to publish the intervals between “the next big thing.” Could you repost that please for chazz15? He needs something me enlightenment. Innovation is difficult, coming up with a new successful product is very tough. What has Google innovated? Samsung? Ford? Chevrolet? Yep, not much.