Apple's profit margin down, shares take a hit
We already know that iOS devices had a record-breaking quarter according to Apple's most recent earnings report, but that figure alone isn't enough to impress Wall Street. Unfortunately, while the company dodged a year-over-year loss in overall profit, the company's profit margin took a sizable hit, down 6.1 percentage points to 38.6% from a year earlier.
This, combined with worries that current iPhone sales have flattened off considerably, helped to contribute to an after-hours hit to Apple's stock price. Currently, shares are down just over 10% (roughly 51 points) since trading closed.
Subscribe to Newsletter
Software Updatesmore updates
- Vizzywig 8xHD price tag now a very affordable $49.99
- Automatic targets teen drivers with License+ service
- Dropbox adds support for TouchID
- YouTube for iOS gets updated with full support for iPhone 6 and 6 Plus
- iOS 8.0.1 update now available (Updated -- Don't update!)
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration