Apple shares tumbled Tuesday morning following an earnings report that disappointed investors after markets closed Monday, with the stock down almost seven percent by 10:30 a.m. That followed a similar dip in after-hours trading on Monday evening.
While Apple posted record quarterly sales of 51 million iPhones, its flagship product, investors had expected sales in the mid-to-upper 50-million range. Stocks immediately tumbled after the company released its earnings.
Analysts’ views on the stock are mixed, with some predicting a sharp drop and others optimistic that the release of the iPhone 6 will buoy the company’s outlook.