Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever. The Stock Fell Anyway.
A record send-off met an after-hours drop of as much as 8%. The market was looking past the quarter.
Overview
Apple (NASDAQ: AAPL) closed the Tim Cook era with its best June quarter ever, with revenue rising 16% year over year to $109.4 billion. The stock still fell as much as 8% in after-hours trading because the market's objections centered on what comes next: supply constraints, rising supply costs, and a share price that had already climbed to about 40 times earnings.
Image source: Apple.
The quarter itself left little to criticize. Earnings per share rose 29% year over year to $2.02, net income climbed 27% to $29.8 billion, and iPhone revenue jumped 22% to $54.3 billion. Mac revenue grew even faster, up 29%.
Details
Source
Originally published at www.fool.com.
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