Apple is trading 7.3% down at $309.16 following its July 30 earnings report, where a weak sales forecast and slowing services growth overshadowed record margins.
- The company reported record 50.1% gross margins and strong Q3 results, but investors are concerned that guidance and services trends may not justify recent valuation levels.
- Market sentiment is also reacting to the announcement of Tim Cook’s final earnings call and the upcoming CEO transition to John Ternus.