Why’s it down 3 percent after hours?
Profit taking?
Because its growth is slowing. Its products are old. And there does not seem to be anything new. Their biggest competitor is blowing up and yet Apples sales are not that great.
Who knows. The Wall Street response is always irrational. It could be that some single thing in the report is not what the anal-cysts wanted it to be. The guidance Apple is giving for the next quarter is ABOVE what the Street was expecting by a considerable amount, but it may not be up as much as some anal-cyst wanted it to be above the expectation. Irrational. A couple of years ago, Apple turned in the best quarter of any company in history and AAPL stock went down drastically!
One thing is that some outlying anal-cysts were saying that Apple needed to sell 46 million iPhones or it would be disaster. . . ignoring that the new iPhone 7 models would only be on the market starting on Friday, September 16, 2016, just 8 days before the end of the fiscal quarter/year on Saturday, September 24, 2016, and the depression of sales that ALWAYS precede the release of an anticipated new product. Comparing last year's iPhone sales, Apple stated they built-up channel inventory by 3.5 million units which were in the reported 48 million units in that quarter. . . so there were actually MORE units sold this year than last year because they are selling as many iPhones as they can build this year, trying to meet demand for the iPhone 7, especially the 7 Plus (per Tim Cook in the Financial Conference Call quoted as I type this). That unmet over hyped expectation may have some effect on the market.
It’s Joe Maddon’s fault....
The Cubs coach spent 90 minutes trying to get his iPad Pro to work. Unsuccessfully.
...Maddon couldn’t use his iPad to enter lineups before the game between the Cubs and the Los Angeles Dodgers, causing him to spend 90 minutes with technical support before the game to address the issue. Apparently, it was a futile effort because he ended up using his phone to do the job.
http://fortune.com/2016/10/20/joe-maddon-ipad-mlb/