Apple's Third-Quarter Earnings Report Triggers Sharp Share Decline

Apple shares experienced their largest decline since September 2022, falling 4.8% after the company's fiscal third-quarter earnings report revealed a forecasted decline in revenue for the September quarter, marking the fourth consecutive quarter of decline. While Apple's earnings beat expectations, overall sales declined 1% due to weaker iPhone, iPad, and Mac sales. The stock's decline was attributed to the company's projection of similar sales in the upcoming quarter, despite indicating that iPhone sales would perform better with a 2% year-over-year decline.