Apple shares fell as much as 4.1% on Friday to $160.88, the biggest intraday decline in more than six months. In Apple’s first earnings report since the launch of the pricey flagship smartphone, the company reported lower-than-expected handset sales from the holiday period. “The super cycle is dead,” Steven Milunovich, an analyst at UBS, wrote in a note to investors on Friday. Apple shares fell as much as 4.1% on Friday to $160.88, the biggest intraday decline in more than six months. Global smartphone shipments slipped 0.1% in 2017, with iPhone shipments up 0.2%, according to research firm IDC.

Source: Mint February 03, 2018 09:56 UTC