New Report. The company Apple stock is down more than 6% in late trading despite higher third-quarter profits than analysts expected.
iPhone sales make up the bulk of Apple’s revenues. Analysts expected 48.8 million iPhones sold, and Apple only sold 47.5 million, still up substantially from 35.2 million sold in the third quarter of last year.
iPad sales continued to decline. Apple sold 10.9 million iPads in the third quarter, and while that was exactly what analysts polled by Bloomberg projected, the figure was down 18% year-over-year. It is unclear how many of the new "Smart Watches" were sold. That information was not disclosed at this time. But if the news was good, I'm sure we would have heard by now.
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