Published on 27 Jul 2021 on Market Watch
Apple Inc.’s whopping fiscal third quarter was overshadowed by the company’s forecast for slowing growth Tuesday, putting a damper on its record results and sending shares south.
Apple — iPhone revenue surpassed Wall Street’s expectations by a stunning $5 billion. But the celebration came to a crashing halt when Apple Chief Financial Officer Luca Maestri said in a conference call that the company’s revenue growth would slow in the current quarter due to foreign exchange rates, the semiconductor shortage and tougher comparisons with the previous year.
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