Apple’s $2.02 EPS and 16% revenue growth failed to offset weak guidance, dragging down funds with heavy exposure to the stock.
Apple shares fell over 9% Friday after the company’s guidance disappointed investors, despite reporting $2.02 earnings per share and a 16% year-over-year revenue increase for the quarter ending June 27.
The decline highlights risks for exchange-traded funds with significant AAPL holdings, as the stock’s underperformance weighs on portfolio returns. Analysts had anticipated stronger forward-looking projections following the earnings beat.
No immediate market reaction data was provided, but the drop underscores concerns about demand for Apple’s flagship products amid broader tech sector volatility.