Apple’s stock price was down about 8% in after-hours trading Tuesday after the company posted its first revenue decline in 13 years.
Everybody knew that revenue drop was upon us — Apple itself warned investors that this quarter wouldn’t be a rosy one. So why the stock dip? Here are three explanations.
1. iPhone sales are down 16%. That’s the product’s first-ever year-over-year drop. The Cupertino, Calif. company makes about 65% of its revenue from selling iPhones. So any falloff in those sales is a problem.
