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Apple shares slide ~1% as iPhone revenue drops 0.8% to $69.1 bn, missing forecasts and hit by an 11% fall in China.
Apple’s shares slipped about 1% in after‑hours trading after the company reported iPhone revenue of $69.138 bn, a 0.8% decline from the prior quarter and below analysts’ $71.030 bn estimate [2]. The miss was driven largely by an 11.1% plunge in Chinese sales, raising concerns that the newly launched iPhone 5c is not resonating in a key growth market.
| At a glance | |
|---|---|
| Stock move | –1% after‑hours |
| iPhone revenue | $69.138 bn (‑0.8% QoQ) |
| Expected iPhone revenue | $71.030 bn |
| China iPhone sales | –11.1% YoY |
Apple’s total quarterly revenue rose 4% year‑over‑year to $124.300 bn, beating the consensus $124.990 bn forecast, yet the iPhone segment—responsible for nearly half of total sales—underperformed [2]. The $69.138 bn figure represents a modest contraction from $69.702 bn a year earlier, and the shortfall against expectations was enough to trigger a sell‑off in the stock despite overall earnings beating the consensus on earnings per share.
The iPhone 5c, launched on 20 September in major markets, is a plastic‑cased variant of the iPhone 5, offered in five bright colors and priced to sit below the premium iPhone 5s [1]. Its positioning aims to capture price‑sensitive buyers, but the steep decline in Chinese demand suggests that competitors’ lower‑priced Android offerings may be eroding Apple’s market share in that region. The product’s specifications remain largely unchanged from the iPhone 5, offering no clear performance edge to offset the price differential.
The stock dip underscores how sensitive Apple’s valuation remains to iPhone performance, especially in China, where a single product’s reception can sway investor sentiment even when overall earnings are solid. The coming quarters will test whether the 5c can revive growth or accelerate a shift toward competitors.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 4, 2026 · How we report
The iPhone 5C uses a polycarbonate exterior with a hidden steel frame, whereas earlier iPhone models featured glass and aluminium bodies.
The Honor 5C has a 5.2‑inch display, which is smaller and more palm‑friendly than the Moto G4’s 5.5‑inch screen.
Reviewers describe the iPhone 5C as a slightly cheaper option relative to the iPhone 5S, but its price of $739 makes it far from a budget phone.