Not. Enough. iPhones. Apple Loses Value as Sales Drop

Too Long; Didn't Read

It was earnings season these past few weeks, which meant each of your favorite (or unfavorite!) tech companies told shareholders how much money they made in the preceding quarter and by all accounts, results were.. largely good? Except for Apple, whose stock took a bit of a beating because the company failed to sell as many iPhones as shareholders would have liked. Now, if you were to look at the company's financial results, its sales were down by 1% year-over-year, which doesn't sound like a lot — until you realize that at the scale of Apple, 1% in monetary terms is literally a billion dollars.