Apple and Palantir shares slide in premarket trading following post-bell earnings
Apple and Palantir shares declined in premarket trading following their latest earnings reports. Apple reported fourth-quarter revenue that exceeded Wall Street expectations, driven by strong iPhone sales, and saw profits grow 12 percent. However, the company missed revenue targets in China and faces investor concerns regarding rising memory costs and their impact on margins. This marks the first earnings report under new CEO John Ternus. While overall results beat estimates, the stock slide reflects a market sensitive to any errors following a 1 trillion dollar rally.
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- ✓ Apple shares declined in premarket trading following post-bell earnings.
- ✓ Apple beat fourth-quarter estimates and Wall Street expectations due to strong iPhone sales.
- ✓ Apple profit grew 12 percent.
- ✓ Apple missed revenue targets in China.
What changed
Apple reported fourth-quarter results under CEO John Ternus showing a profit increase of 12 percent and an overall revenue beat.
Live updates
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Apple and Palantir Shares Drop After Post-Bell Earnings
Apple and Palantir shares declined in premarket trading following their latest earnings reports. Apple reported fourth-quarter revenue that exceeded Wall Street expectations, driven by strong iPhone sales, and saw profits grow 12 percent. However, the company missed revenue targets in China and faces investor concerns regarding rising memory costs and their impact on margins. This marks the first earnings report under new CEO John Ternus. While overall results beat estimates, the stock slide reflects a market sensitive to any errors following a 1 trillion dollar rally.
Why it matters
Apple's recent valuation surge created high expectations for its financial performance. The company is currently balancing strong hardware demand against regional revenue misses and increasing component prices.
What is confirmed
- Apple shares declined in premarket trading following post-bell earnings.
- Apple beat fourth-quarter estimates and Wall Street expectations due to strong iPhone sales.
- Apple profit grew 12 percent.
- Apple missed revenue targets in China.
- Palantir shares slid in premarket trading following post-bell earnings.
Still unconfirmed
- Higher memory costs are fueling margin concerns for Apple.
- John Ternus is the new CEO of Apple.
What to watch next
- Federal Reserve decision on interest rates
- Further data on China revenue trends
- Updates on component and memory pricing
confidence 90%Sources used for this update (16)
- economictimes.indiatimes.com — Business News Live, Share Market News - Read Latest Finance News, IPO ...
- www.cnn.com — Breaking News, Latest News and Videos | CNN
- stocktwits.com — Stocktwits - Stock Market Live Quotes, Social Community...
- www.zerohedge.com — Futures Rise, Oil Slides As Iran's Supreme Leader Talks Peace And Shrugs Off Ras Tanura Attack
- www.cnbc.com — Oil today: Iran, US, crude, wti, brent, trump
- www.news4jax.com — US stocks hold steady as the countdown ticks to a Federal Reserve decision on interest rates
- Bloomberg — Apple’s $1 Trillion Rally Leaves No Room for Error on Earnings
- Yahoo Finance — Apple earnings live: Apple beats Q4 estimates on strong iPhone sales but misses on China revenue
- The New York Times — Apple’s Profit Grows 12 Percent Despite Component Price Worries
- Bloomberg.com — Apple Fourth-Quarter Earnings Live Coverage
- Reuters — Apple results beat Wall Street expectations on strong iPhone sales
- CNBC — Apple and Palantir shares slide in premarket trading following post-bell earnings
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