Why Apple's stock is down, pushing market value below $1 trillion

Apple CEO Tim Cook says he’s bullish on the company’s future in India

However, after failing to find a satisfying number of new customers for iPhone, Apple has turned to a strategy which will allow people to see only the rosy part of Apple's performance and will have a comparatively lesser impact on its share value. In terms of growth, Apple's services revenue, which includes revenue from Digital Content and Services, AppleCare, Apple Pay, licensing and other services, grew from $7.9 billion in the fourth quarter of fiscal year 2017 to $10 billion in the final quarter of 2018, marking an increase of 27 per cent. So far so not so serious. That would be bad.

Hewson, however, pointed to a "rather twisted sense of priorities" as analysts expect the company to bring in revenue of $90bn next quarter but also obsess about unit numbers over product prices.

This feels like a tempest in a teapot, though if investors think it's a gale in the technology ocean, then indeed it is.

Apple Inc.'s disappointing earnings report sent the company's market value tumbling below $1 trillion on Friday.

This just in, Apple makes a lot of money! The decision to withhold the information was interpreted as a sign that Apple anticipates years of growth in the number of iPhones sold coming to an end, overshadowing what was a record quarter for the California-based company.

Despite the falling shares, this was Apple's best-ever fourth quarter.

For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion, beating analyst estimates of $264 billion.

Apple shares dipped as much as 4.5 per cent to hit an intraday low of $198.17 in early deals, from the previous close of $207.48. Its revenue, however, rose 20 percent over the year-ago period to $62.9 billion, according to a company statement.

At 11:07 am, Apple shares traded 3 per cent lower at $201.27 apiece on the Nasdaq, underperforming a USA market that was up 0.4 per cent.

The change is in line with how Apple already treats other hardware sales - such as those of the Apple Watch and HomePod - which it groups together rather than revealing sales in individual categories.

On Friday, Apple's stock declined 6.6%, a day after it provided guidance for the holiday December quarter that fell short of Street expectations.

iPads, meanwhile, hope to get a boost from the newly-launched iPad Pros, which now come with key features from the iPhone X, including Face ID and an edge-to-edge display, plus the new A12X Bionic chip.

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