Wall Street Takes a Bite Out of Apple Shares

The company's stock was down almost 7 percent Tuesday morning after markets opened

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Robert Galbraith / Reuters

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.