Wall Street loves Apple's lackluster earnings
1:46

Wall Street loves Apple's lackluster earnings

Tech Industry
[MUSIC] Let's talk about the Apple. The company posted its fiscal second quarter results yesterday, which actually better than expected, right? Yes. Most people expected the iPhone sales to tank. They did. They did do pretty badly. But seems like Apple stock is up. Apple stock is up because this is how Wall Street works, is that it's all an expectations game. Right. So, And if you listen to the call, this is one of those reality distortion field types of things where Apple made it seem like everything is going great, right? Even though revenue is down, profits are down, iPhone sales were down. But there are certain areas of the company that are showing really strong signs of growth right specifically wearables. Their services business. So there are obvious signs [CROSS-TALK] Wearables obviously they just announced an update to their airpads, right. I'm sure that helped a lot. They said that those sales are going gangbusters. It's a cultural phenomenon. Yeah And I think it's right Tim Cook [UKNOWN] Really! He called the airpads a cultural phenomenon. Yes yes. All right. That's something. It's Apple [CROSS_TALK] Yeah, that was due to the Ipad Pro sales. That's still surprising to me. I mean the Ipads have been easy to dump on for a while. So, okay, these are all very good points, however, I quote an e-marketer analyst in my story, let's say. All of these businesses, they rely on iPhone sale so if the iPhone sales are down then those other businesses may be they're gonna do well for a short term but ultimately there's a bit of a trouble there. Interesting that's a report on the line It could In fact end up impacting those businesses yeah Alright, for more of these stories check us out on CNN. I'm Roger Chang And I'm Fox Rueben Thanks for listening [MUSIC]

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