NEW YORK (TheStreet) --Apple AAPL was falling -0.8% to $94.01 after-hours Tuesday after missing analysts' expectations for revenue in the third quarter, and guiding below estimates for the fourth quarter.
The iPhone marker reported earnings of $1.28 a share, beating analysts' estimates $1.23 a share by 5 cents. Revenue grew 6% year-over-year to $37.43 billion for the quarter. Analysts surveyed by Thomson Reuters expected revenue of $37.99 billion for the quarter.
Apple sold 32.5 million iPhones, and 13.3 million iPads, and 4.4 million Macs in the quarter.
Looking forward to the fourth quarter, Apple expects revenue of $37 billion to $40 billion, below analysts' estimates of $40.4 billion.
TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."