Apple Dips 4% After Disappointing iPhone Sales

Video Credit: Wochit News
Published on October 30, 2020 - Duration: 00:38s

Apple Dips 4% After Disappointing iPhone Sales

On Friday, Apple shares fell as much as 5.6%.

The drop comes after the tech giant's fiscal fourth-quarter figures failed to meet analysts' expectations.

Business Insider reports the slide saw as much as $111 billion erased from Apple's market cap.

The company beat estimates for overall revenue and profit.

IPhone sales were well below Apple's expectations.

Apple's updated phone lineup was released roughly one month later than usual.

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