Apple Inc. (AAPL) PT Set at $133.00 by Macquarie

As a result, the company's annual revenue fell for the first time since the iPhone was launched. Unsurprisingly this drop in sales also had a negative impact on the company's profits, which also saw a significant drop of 14% to $45.7bn.

Apple's hardware sales fell by 8 per cent compared to a year ago. The Company posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion, or $1.67 per diluted share. Report says iPhone 8 will come in three sizes, all with glass backs: Now that the iPhone 7 and 7 Plus are out... https://t.co/mUg1BuM46M - Bazinga! The biggest near-term issue revolves around supply constraints for the higher-priced iPhone 7 Plus, which will weigh on gross margins and likely contributed to Apple's stock falling 3% after hours.

Apple stock was down 2.5 percent in after hours trading following the earnings release.

It's not all bad news, though, as Apple noted that its services division, which includes iCloud, iTunes, and Apple Music, grew 24 percent year over year.

Despite the depressing figures that turned up in the financial report of 2016, Apple has put up a strong face and has forecasted a comeback in the next quarter as it has predicted product sales worth $76-78 billion.

13.8M Goal Set for Health Care Sign-Up Season
Some 13.8 million people are expected to sign up for 2017 coverage, Health and Human Services Secretary Sylvia Burwell said. Finally, the administration is ramping up outreach, with a particular goal of enticing younger, healthier people to enroll.

Apple Chief Financial Officer Luca Maestri told Reuters on Tuesday it was "impossible to know" if there was any effect yet from Samsung halting production of its Note 7 phones.

Net income in the quarter surged 34% to $2.3 billion or $3.60 per diluted share compared to the $1.7 billion or $2.47 per share from the same quarter past year.

According to Apple's fourth quarterly update for the period ending September 24, the company raked in $46.9 billion (£38.3 billion) in sales and $9 billion (£7.3 billion). NN Investment Partners Holdings N.V. purchased a new position in Apple during the first quarter valued at about $325,287,000.

"The mix that we projected on iPhone 7 Plus is short of what the reality is". The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.66 by $0.01. One recent global report has suggested smartwatch sales declined 51 percent in the third quarter of 2016. The initial trigger was CEO Tim Cook, who in his opening remarks called out India as one of the most promising markets for the company.

Related news:

Hot News

isis-killer-beheading-video-story-top I'll run America like my business. Clinton: Let's not
Oct 27, 2016 - 08:56
Clinton herself jabbed Trump over the stop, saying at a campaign stop in Florida that he was "taking time off the campaign trail". Over the summer, after he effectively clinched the GOP nomination, Trump flew to Scotland to promote his golf courses there.

isis-killer-beheading-video-story-top Only 1 provider in state to offer Affordable Care coverage
Oct 27, 2016 - 08:48
After the rate hike, premiums will be about where the Congressional Budget Office initially projected they would be at this point. Iowa Republican Party chairman Jeff Kaufmann said in a statement that Democrat Patty Judge, who is seeking to unseat GOP Sen.

isis-killer-beheading-video-story-top Seattle, Arizona players not sure how to react after 6-6 tie
Oct 26, 2016 - 09:08
Catanzaro's gaffe wasted a lunch-pail performance by David Johnson, who racked up 171 total yards on a career-high 41 touches. The tie was the Cardinals' first since December 7, 1986, a 10-10 draw at Philadelphia when the franchise was based in St.

isis-killer-beheading-video-story-top Dez likely to return Sunday vs. Eagles
Oct 26, 2016 - 09:05
Now that Bryant is cleared to play, the big question surrounding the Cowboys is what they will do once Romo is ready to return. On Wednesday, Scout.com's Mike Fisher offered a look at the rookie dinner the Dallas Cowboys held during their bye week.

isis-killer-beheading-video-story-top Tim Kaine Rallies Clinton Volunteers in Central Ohio
Oct 25, 2016 - 03:36
He criticized Donald Trump for perpetuating the conspiracy theory that President Barack Obama wasn't a United States citizen. Sen. and Democratic Vice Presidential candidate Tim Kaine said during a campaign rally in downtown Springfield Wednesday.

Imperfect Patriots good enough to pull away from Steelers
Oct 25, 2016 - 03:32
The Patriots also held Bell and Brown to 28 total yards from scrimmage in the fourth quarter and never trailed in the game. Maybe this was the game where everything clicked as a pass rusher for Jones. "(I've) got an extra week this week.

isis-killer-beheading-video-story-top Dodgers take lead in series against Cubs
Oct 25, 2016 - 03:25
Carl Edwards Jr., Mike Montgomery, Pedro Strop and Aroldis Chapman combined for 3 2/3 innings of hitless relief. In four playoff appearances, including three starts and one game as closer, he has a 3.72 ERA with a 1.09 WHIP.

Cardinals cruise over Jets in Monday Night Football
Oct 24, 2016 - 05:54
To some, the idea that a team made up mostly of players who reached the NFC Championship Game last season may seem a bit off. Just as they had the week before against San Francisco, the Cardinals won Monday night with a punishing running game.

isis-killer-beheading-video-story-top Texans look for improvement before trip to Denver
Oct 24, 2016 - 05:43
But fresh of a big contract and struggling to fulfill expectations, it's easy to see why Osweiler might be feeling a bit tense. Osweiler went 5-2 as a starter for the Broncos before being replaced by Peyton Manning for the postseason.

isis-killer-beheading-video-story-top Ryan's Trump strategy: Say little
Oct 24, 2016 - 05:32
By restricting the tax code, reducing illogical and burdensome regulations, and curbing federal spending, Mr. John McCain (R-Ariz.), Carly Fiorina, Rosy O'Donnell, Mexicans, immigrants, Muslims, Gov.

isis-killer-beheading-video-story-top Trump's willingness to dispute election
Oct 24, 2016 - 05:24
The American republic, of course, depends on following existing laws to determine the victor of extremely close elections . In numerous close elections and recounts, I have observed the inner workings of our election system from a front row seat.

isis-killer-beheading-video-story-top Rodgers, Packers beat Bears with big 2nd half
Oct 23, 2016 - 03:33
The ball bounced into the end zone, where Floyd pounced on it for the offensively-challenged Bears' first touchdown of the night. He went out and tied Don Hutson's franchise record 13 receptions in a single game, finishing with 132 yards and two touchdowns.

Clinton far ahead in Electoral College race
Oct 23, 2016 - 03:19
Sanders also stressed that his supporters keep fighting beyond the election for the issues raised by his presidential campaign . Clinton has a 5.1-point lead over Trump, which is just outside the margin of error .

Images indicate European Mars lander destroyed -ESA
Oct 22, 2016 - 00:15
This is the main reason why humanity is looking at Mars for a possible future planetary colonization. The rockets that were supposed to guarantee total standstill appeared to fire for too short a time.

isis-killer-beheading-video-story-top Jets turn to Geno Smith to start at quarterback vs. Ravens
Oct 22, 2016 - 00:08
The 49ers have made their own quarterback switch, changing from Blaine Gabbert to Colin Kaepernick in Week 6. "I am. Since Fitzpatrick was a free agent after the season, he looked for a market value deal.