NEW YORK, United States. Apple posted record sales for the third quarter as iPhone demand boomed, but forecast lower-than-expected revenue for the next three months.
Shares fell almost 8% in after-hours trading on the prediction.
The technology giant reported record third-quarter sales of both iPhones and Macs, which helped drive profits up 38% to $10.7bn.
Revenue surged 33% to $49.6bn, contributing to what chief executive Tim Cook called “an amazing quarter”.
He also said the Apple Watch – the firm’s first piece of wearable technology – had had a “great start”.
The company is not publishing more detailed sales figures for the watch, which went on sale on 24 April.
The Apple boss said last autumn that he did not want to reveal the figures to avoid giving competitors inside information.
Shares were down $10 to $120.85 in after-market trading in New York on the fourth-quarter forecast.
Apple said revenue for the period would be between $49bn and $51bn – lower than the $51.1bn average forecast by analysts.
Credit: BBC
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