With a market cap around $3 trillion (give or take a few billion), Apple CEO Tim Cook faced Wall Street investors yesterday on the company’s quarterly earnings call, delivering respectable results that beat street estimates overall.
Apple stock retreated slightly – down 1.5% in after hours trading – largely on news that iPhone sales had slumped 2%. iPhone sales account for 48% of the company’s total hardware sales, which were down 4.4.% overall dragged down by computer and iPad sales, which were fell 7% and 20% respectively.
