Apple shares have fallen sharply despite the technology giant reporting a big jump in third quarter profits. The shares closed 4.3% lower at $125.14, cutting $50bn off Apple's market value, with investors unimpressed with its revenue forecasts.
The fall comes in spite of what boss Tim Cook called "an amazing quarter" in the three months to 27 June.
Apple's profit for the quarter rose by 38% from a year earlier to $10.7bn, while revenue was up 33% to $49.6bn.
The company sold 47.5 million iPhones in the period, up 35% on a year ago, with Mac computer sales rising 9% to 4.8 million.
Analysts blamed the share fall on disappointment about the company's revenue forecasts for the fourth quarter, which were slightly lower than expected, as well as the firm's profits being too heavily dependent on the iPhone.
Apple is forecasting revenue to be between $49bn and $51bn in the fourth quarter.
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