Apple Will Stop Reporting iPhone Unit Sales; Forecast Underwhelms
- Stock extends losses as CFO says it won’t report unit sales
- Company sees little year-over-year growth in iPhone unit sales
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Apple Inc. gave an underwhelming forecast for the key holiday period suggesting weaker-than-expected demand for pricier new iPhones. The company further stoked concerns by saying it will stop reporting unit sales of its most-important product.
Apple shares fell about 7 percent in extended trading on Thursday. The stock closed at $222.22 in New York, leaving it up 31 percent this year. Apple suppliers declined after the report.