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Apple released earnings for its first quarter this afternoon, a report worth looking at to help gauge the health of the overall tech market and many of our favorite gadgets. Overall, Apple’s revenue was up sharply, from $7.12 billion the first quarter last year to $9.6 billion this time around. iPhone sales more than doubled from the previous quarter, from 1.1 million to 2.3 million.
However, despite what sounds like good news, Apple’s stock is getting creamed, down more than 9% in afterhours trading. Apparently, those who trade stocks for a living were disappointed in the company’s earnings forecast for the second quarter. Apple is actually now down more than 30 percent since we reported it breaking $200 for the first time.