The Biggest Tech Rally Since October Just Hit a Brick Wall
Apple Sold 47.5 Million iPhones in Q3
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The biggest technology rally since October was knocked cold, as disappointing earnings reports punished Microsoft Corp. and gave Apple Inc. its biggest loss this year.
Five days after Google Inc.’s earnings spurred the largest one-day wealth creation by any U.S. stock, computer and software shares are tumbling. Apple, Microsoft and Yahoo! Inc. retreated on disappointing results. Apple, the world’s most valuable company, slid 4.9 percent, wiping almost $40 billion from its value.