Almost exactly three months after crossing above the $1 trillion market mark for the first time, disappointing iPhone sales and a lowered outlook have sparked catch down selling in the world’s largest company after it survived October relatively unscathed…
With AAPL shares already tumbling after hours on weak guidance and iPhone sales miss, moments ago the stock was rocked lower when the company said it would stop providing unit sales numbers for iPhone, iPad and Mac.
While CFO Lucas Maestri “explained” on the earnings call that unit sales do not represent clear indication of a performance of the company and are less relevant, investors clearly disagreed and punished the stock, sending it back under the much discussed $1 trillion market cap.
Sayonara to the ‘quatro commas’ club.
And that has erased all of Nasdaq’s surge gains on the day…
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