Apple Stock (NASDAQ:AAPL) Falls After Missing on Chinese Revenue Expectations

Apple (NASDAQ:AAPL) shares declined by 1.2% in after-hours trading on Thursday as of 4:46PM EST despite the company announcing fiscal Q4 results that surpassed expectations.

For the quarter ending on September 28, Apple posted earnings of $1.64 per share and a 6.1% year-over-year increase in revenue, reaching $94.93 billion. The breakdown of revenue included $46.22 billion from iPhone sales, $6.95 billion from iPad sales, and $24.97 billion from its Services segment, which came in slightly below analyst projections of $25.27 billion. Revenue from Mac sales and the Wearables, Home, and Accessories division were $7.74 billion and $9.04 billion, respectively.

Apple's performance in the Chinese market was disappointing, as the company reported $15.03 billion in revenue, falling short of the $15.8 billion analysts anticipated. Apple continues to face intense competition in China, particularly from Huawei.

Analyst estimates had anticipated earnings of $1.60 per share on $94.52 billion in revenue.