The techs are tumbling tonight (US time) with heavyweights Apple and Twitter both crashing in post close trading as earnings, revenue and sales figures have missed big time.
Via Chris Weston at IG:
- Stock down 5% or so in post market…key is this – Apple sees FY3Q rev. $41b-$43b vs est. $47.35b, (lowest est. $43.95b)
- Sees 3Q gross margin 37.5%-38.0% vs est. 39.2%
- Expands capital return program, will spend $250b cash by end of March 2018 Boosts div to 57c/shr from 52c, est. 57c
- Boosts share-buyback program by $35b to $175b