Apple (NASDAQ: AAPL) shares fell 4.46% to $323.23 in premarket trading at 08:21 a.m. ET Tuesday, following an earnings call that disclosed a $33 billion increase in manufacturing purchase obligations and a weaker gross margin forecast for the holiday quarter.
The increase implies $90 billion in manufacturing commitments at the end of September, up nearly 58% from the $57 billion reported in Apple’s June-quarter SEC filing. However, the company had not yet disclosed the exact September figure in its annual report.
The margin warning followed stronger-than-expected fiscal fourth-quarter results. Apple reported revenue of $114.5 billion, up 12% year over year and above analysts’ expectations of approximately $113.4 billion. Diluted earnings reached $2.10 per share, compared with estimates of $1.99. The earnings figure included a $0.05-per-share benefit from tariff refunds.
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The increase implies $90 billion in manufacturing commitments at the end of September, up nearly 58% from the $57 billion reported in Apple’s June-quarter SEC filing. However, the company had not yet disclosed the exact September figure in its annual report.
The margin warning followed stronger-than-expected fiscal fourth-quarter results. Apple reported revenue of $114.5 billion, up 12% year over year and above analysts’ expectations of approximately $113.4 billion. Diluted earnings reached $2.10 per share, compared with estimates of $1.99. The earnings figure included a $0.05-per-share benefit from tariff refunds.
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