Apple shares came under a heavy selling pressure in the after-hours trading and lost more than 5% despite the upbeat third-quarter earnings data. For the quarter ended in September, Apple’s revenue was $62.9 billion compared to experts’ estimate of $65.1 billion while bringing in $2.91 per share in profits to beat the market expectation of $2.79.
However, Apple’s Chief Executive Tim Cook said that sales in the last quarter of the year could fall short of Wall Street’s expectations amid weakness seen in emerging markets due to foreign exchange costs, which could have a $2 billion negative impact. Cook also told Reuters that he wasn’t sure whether they had the capacity to produce enough of the new iPhone, Mac, Ä°pad, and Apple Watch models that they recently unveiled.
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