CNBC Television published this video item, entitled “Josh Brown: ‘Markets are looking forward, not backward’ on Apple stock” – below is their description.
Josh Brown, CEO of Ritholtz Wealth Management, joins Closing Bell to discuss earnings and shares of Big Tech companies whose earnings were released this week. People have already moved past earnings to look ahead to the next quarter, he says, explaining why Apple shares dropped today. Subscribe to CNBC PRO for access to investor and analyst insights on Apple and more: https://cnb.cx/3dIH56N
Apple reported strong fiscal third-quarter earnings on Tuesday, demolishing Wall Street expectations. Every one of Apple’s major product lines grew over 12% on an annual basis.
Overall, Apple’s sales were up 36% from the June quarter last year. iPhone sales increased nearly 50% on an annual basis.
Apple stock was down over 2% in extended trading. It dropped on Tuesday after Apple warned on its earnings call growth in the September quarter would not be as strong as June’s.
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