Technology giants and makers of the Iphone, Apple Corporation disclosed third Quarter profits yesterday. With 47.5 million Iphones sold in that quarter, revenue rose to a record $49.6 Billion while profits also soared to $10.7 Billion.
Despite posting such record profits for the third quarters, Apple shares fell to $121.89 on the NYSE. Analysts say that the share fall is seen as a result of Apple falling slightly short of market revenue expectations.
There are also concerns of over-dependence on the Iphone as the Ipads and the Apple watch contribute only a fraction to the revenue.
Source: Business News