On the surface, Apple’s third-quarter results were disheartening: Net sales down 15 percent in a second consecutive quarterly decline; lowered earnings; and iPhone shipments off by a scary 23 percent. Yet the company’s shares rose 7 percent after the numbers were released. Here’s why.
“For Apple bears, there was plenty to feast on in the company’s latest financial report. Revenue fell again-this time by 15%-the first time since 2002 that Apple has faced two straight quarters of shrinking sales. Shipments of Macs, iPads and iPhones were all below last year’s figures.”