Apple misses on earnings, shares tumble

For the first time since 2004, Apple has fallen short of Wall Street’s earnings expectations.

The company reported earnings of $7.05 per share in its fourth fiscal quarter. While that represented a 54 percent gain in net income, it was still notably less than the $7.39 analysts had expected of the company. Shares fell roughly 6 percent in after-hours trading.

Read more at Daily Variety