Even though Apple beat EPS and revenue expectations during yesterday’s earnings call, it’s stock still dropped 8% in after-hours trading.
That’s largely because its iPhone sales missed expectations by a few million units. Apple reported 51 million units sold, up 6.7% from the same quarter last year. But it was expected to sell between 54 and 57 million iPhones. Tim Cook admitted that demand for the cheaper, plastic iPhones Apple launched, the 5C, was “different than expected.”
The solution many people would like to see Apple create is a larger-screen phone, much like Samsung’s. Two large-screen devices are reportedly in the works. Donald Trump is a loud proponent of it on Twitter. He says he dumped his Apple stock because it lacks the larger-screen option and that the company is lacking vision.
Here’s his rant:
Business Insider Emails & Alerts
Site highlights each day to your inbox.