Apple (AAPL) Announces it Sold 47.8 Million iPhones But Investors Disappointed

Apple stock took a hit after its first-quarter earnings were released on Wednesday afternoon, topping profit forecasts but with lower than expected iPhone sales. Shares of Apple (Nasdaq: AAPL) fell more than 5 percent in after-hours trading. Apple stock was up 1.86 percent to $514.17 at the close of trading in New York. "No technology company has ever reported these kinds of results," Tim Cook, CEO of Apple, said on the earnings call. The company reported that it sold 47.8 million iPhones...Full Story
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