Shares of Apple are down -7% in premarket trading Wednesday after poor earnings led Cowen analysts to downgrade the stock. During Apple’s third quarter 2015, Apple reported earnings per share of $1.85 on revenue of $49.6 billion. Analysts were forecasting Apple to post earnings per share of $1.81 on $49.43 billion. While Apple was still able to beat analyst forecasts, this quarter represents the thinnest earnings beat since 2013. While the iPhone 6 appeared to be a success out of the gate, iPhone unit sales came just above estimates and were deemed lackluster. Cowen downgraded Apple from “outperform” rating to “market perform”.
China slowdown puts a damper on US...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
