Apple reported a solid fiscal third quarter, beating analyst estimates on every metric. The results were bolstered by strong sales of MacBook computers and the iPhone, the latter of which saw revenue jump nearly 22% in the three months ending in June.
Despite the overall success, the company experienced slower than anticipated growth in its services business and in China, sparking concerns about these two key markets.
Investor confidence was further impacted by a sales forecast for the current quarter ending in September that fell short of Wall Street targets. The market was also affected by memory-chip costs and a lack of additional tariff refunds.
Following these updates, Apple shares fell in after-hours trade, with reports of declines of 2.3% and 7.8%.