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Apple's Forward Guidance Fails to Meet Expectations
Last night Google (NASDAQ:GOOG) and IBM (NASDAQ:IBM) beat earnings by very wide margins but today the NASDAQ-100 could only muster a 0.65% gain for the day despite their gains of over 5%. The big show today was Apple's (NASDAQ:AAPL) earnings due to its big weighting in the two major US indexes. Before the earnings the options were implying a 7.79% move the highest implied volatility over the last eight earnings reports. The technology giant reported EPS of $13.81 beating estimates of $13.53 but missed revenues at $54.51 billion vs $54.88 billion estimates. Forward guidance for second quarter revenues was ...
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