Apple Inc.'s stock price dropped -7.1% on Friday, sending its value to below $1 trillion.
This come just a day after its earnings report revealed that 46.89 million iPhones were sold during the quarter ended Sept. 30, which was below analysts' expectations. Furthermore, company CFO Luca Maestri said during the earnings call that Apple will stop reporting a breakdown of sales into iPhones, Macs and iPads starting this December quarter. Apple also lowered expectations on holiday sales.
Friday’s stock price loss led to a -10% decline from its recent high.