ron Technology (MU), which reported a fiscal first-quarter loss of $1.2 billion, was down more than 10%.
Apple (AAPL) announced its Q1 earnings on Thursday, reporting a rare miss on analysts’ expectations, as revenue fell 5% year-over-year to $117.2 billion.
What’s worse, iPhone sales, which make up more than half of Apple’s total revenue, declined 8% year-over-year to $65.7 billion. For any other company, those results would have been a disaster.
Just look at Amazon (AMZN), which reported a full-year net loss of $2.7 billion. As of Friday, shares of the e-commerce giant were down more than 5%.
Micron Technology (MU), which reported a fiscal first-quarter loss of $1
Apple sales, the company’s services business continues to grow.
After Microsoft announced slowing cloud growth last week, its shares were down about 1%. Shares of Google parent Alphabet, meanwhile, were off more than 1% after the company reported declining ad sales.
Apple, on the other hand, was up more than 3% as of noon Friday.
The reason? While iPhone, Mac, and Wearables sales declined, the company’s services business continues to grow.
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