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Apple dodges tech rout even after posting a lukewarm Q4 results

Though sales of iPhones and services were softer than expected last quarter, Apple's revenue and profit both topped analysts' estimates

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Investors found enough optimism to send shares up about half a percentage point during pre-market trading in New York on Friday. Photo: Bloomberg

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Apple delivered just enough good news in its quarterly report to avoid the fate of most tech giants this earning season, when its peers have seen valuations plunge by hundreds of billions of dollars. 

Though sales of iPhones and services were softer than expected last quarter, Apple’s revenue and profit both topped analysts’ estimates. The company said that growth wouldn’t be as strong during the current period.

Investors found enough optimism to send shares up about half a percentage point during pre-market trading in New York on Friday. Apple dropped 3.1 per fect to close at $144.80 in New York on Thursday.

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First Published: Oct 29 2022 | 12:27 AM IST

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