Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Apple shares tumble after lackluster earnings
First Published Jan 28 2014 08:52 am • Last Updated Jan 28 2014 03:18 pm

New York » Apple’s stock dropped Tuesdat, hurt by a lackluster first-quarter performance and a cautious second-quarter revenue outlook.

The shares fell 8 percent, hovering near $507 in afternoon trading.

Join the Discussion
Post a Comment

On Monday Apple Inc. said it sold more iPhones and iPads in the first quarter than in any prior quarter, but investors were expecting even bigger things from the Cupertino, Calif., company.

The iPhone maker also announced a second-quarter revenue forecast of $43 billion, below Wall Street’s $46.13 billion estimate.

The company’s stock has started losing some ground in the past year due to concerns about slowing growth and increasing competition.

On Tuesday Carl Icahn added to his Apple stake, tweeting that he’d purchased $500 million more shares of the company.

The billionaire investor has spent more than $1 billion on Apple stock during the past weeks to raise his total holdings in the company to roughly $4 billion. Icahn started buying Apple’s stock five months ago when it was still trading below $450.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Login to the Electronic Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.