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Apple stock fell in extended trading on Thursday as consumer electronics giant Apple missed Wall Street's targets for the December quarter amid declining iPhone and Mac sales.
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The Cupertino, California-based company reported earnings of $1.88 per share on sales of $117.2 billion in its fiscal first quarter that ended December 31.
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In addition, last quarter Apple faced supply shortages from COVID-related disruptions at its main iPhone factory in China.
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The company has crossed a major milestone with its installed base reaching over 2 billion active devices. Which includes iPhone, iPad, Mac and other gadgets.
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In the later trading today in the stock market, Apple stock fell 3.9% to 144.93. Apple stock closed up 3.7% at 150.82 during Thursday's regular session.
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Apple's services revenue grew 6% year over year to $20.77 billion in the December quarter. But hardware revenue declined 8% to $96.39 billion.
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