“Shares of Apple are back in the doghouse after the tech giant disappointed investors in its weaker-than-expected earnings report Monday after the bell.
Soft iPhone sales, along with light forward guidance for the current quarter, helped spark one of the biggest single-day declines in recent memory. Apple shares are now hovering around $500, effectively erasing all of its gains since October.
If there was a silver lining, it once again came from CEO Tim Cook's typical reference to future products. In Apple's conference call, Cook briefly commented that mobile payments are one area Apple finds intriguing beyond its current product scope. This naturally gave rise to wild speculation that Apple is indeed eying a possible mobile-payments product as one part of its often-touted "product pipeline." “
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