Shares of Apple Inc. (AAPL) were down about 1% after hours after the company reported fiscal first-quarter iPhone shipments that missed consensus estimates.
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Apple offered consumers three different kinds of iPhones in the quarter with base prices running between $350 and an all-time high of $999. However, the company sold 77.3 million iPhones, short of FactSet's consensus expectation of 80.2 million.
The company was able to top analysts' earnings estimates, reporting earnings of $3.89 per share vs. the $3.86 per share forecast. Revenue of $88.3 billion also topped Wall Street's $87.28 billion expectations.
Apple also missed on Mac shipments, moving 5.1 million units in the period vs. the 5.52 million unit estimate.
Apple guided second-quarter revenue between $60 billion and $62 billion, short of consensus estimates of $65.9 billion.
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