Apple stock price down: Why is AAPL share price falling ahead of earnings call, iPhone sales report?

Apple stock price today fell over 1 per cent as the tech giant is set to announce earnings report after Monday trading at the US Stock Market. Apple Inc or AAPL share price fell 1.05 per cent or 3.63 points to USD 341 today. AAPL stock price's fall on Monday comes at a time Apple share price jumped 25.6 per cent at Nasdaq.

Wall Street stocks rose early Monday as oil prices retreated while markets looked ahead to major Apple earnings and US midterm election day. S&P 500 climbed 0.4 percent to 7,613.52, while Nasdaq Composite Index advanced 0.6 percent to 25,584.47. Dow Jones Industrial Average was up 0.8 percent at 52,193.68.

According to AFP report, US stock market has largely priced in a Democratic win in the House of Representatives but hasn't adopted a decisive view on the Senate, where President Donald Trump's Republican Party has a better chance of retaining power.


Analysts expect Apple to report a nearly 11 per cent rise in revenue to $113.39 billion for the July-September period, the company's fiscal fourth quarter, according to LSEG data. Net profit is expected to rise about 6 per cent to $29.04 billion.

Apple's services business is expected to grow almost 10 per cent to $31.56 billion, its slowest pace in more than three years.

iPhone sales are projected to climb about 15 per cent to $56.54 billion, slowing from growth of about 22% in the previous three months. The results will capture just nine days of sales of the new iPhone 18 Pro models, while the iPhone Duo, the firm's first foldable, came out on October 23, which will benefit the holiday quarter.

John Ternus will host his first earnings call as Apple's CEO this afternoon, with investors looking to the company's forecast to determine whether a blitz of new products can help offset rising costs for memory chips.

Ternus, who took the reins from Tim Cook in September, has overseen the introduction of Apple's first foldable phone, smart home hub and Apple's first touch-screen laptops. All of those products began shipping during the company's current fiscal first quarter, amid what Cook had called a "100-year flood" of rising memory costs.