Apple earnings top expectations but sales drop in China, iPhone sales weighs on stock

Apple (AAPL) reported fiscal fourth-quarter earnings after market close on Thursday that topped expectations, with sales from the company’s services offerings and Mac computers hitting quarterly records. However, shares traded lower by more than 3% immediately following the report, as investors focused on a worse-than-expected drop in iPhone sales during the third quarter, and a steep decline in sales in China.

The results came just weeks following Apple’s highly anticipated unveiling of…


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