Apple shares were trading at around $95 as of mid-day Thursday in the wake of the company’s disappointing Q2 earnings report. That was even lower than Wednesday’s opening price, which was down more than $8 from Tuesday’s $104.35 at market close. The company’s second-quarter performance was dismal. The iPhone recorded its first drop in sales — to 51.2 million units, down from 61.2 million in the year-ago quarter — and sales of other products also were down.
Overall sales fell 13 percent to $50.6 billion, and profits were down 22 percent year over year, to $10.5 billion, or $1.90 per diluted share.
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