In the video below, tech analysts Andrew Tonner and Eric Bleeker discuss Apple's (Nasdaq: AAPL) earnings, which came after the bell and were disappointing enough that the company's shares are down 10% in after-hours trading.
As Eric discusses, Apple was down closer to 4% before its earnings call when it reaffirmed it was no longer "low-balling" its guidance for future quarters. Once Apple clarified its new stance on guidance, the focus shifted to next quarter. In that quarter, it is projecting $41 billion to $43 billion in revenue, which is well below expectations that it would be able to achieve $45.6 billion in earnings. The saving grace for Apple investors? In after-hours trading, Apple's ex-cash P/E is down to an anemic seven times earnings. To learn Eric and Andrew's thoughts, watch the video below.