Apple Misses Earnings Estimates! Stock Falls 5%

Shares of Apple

are trading down better than 5% at $399.00 after the company missed earnings estimates. Apple reported EPS of $7.05 versus consensus Street estimates of $7.28. Revenues came in at $28.3 billion, which compares to analysts' consensus estimates of $29.45 billion. Needless, to say, this is a huge surprise as Apple has not missed estimates in years!