Apple gives weak forecast, shares fall more than 6 percent

By Anya George Tharakan and Julia Love BENGALURU/SAN FRANCISCO (Reuters) – Apple Inc forecast fourth-quarter revenue below estimates and missed some targets for iPhone sales, sending its shares down more than 6 percent in after-hours trading. Apple said on Tuesday it sold 47.5 million iPhones in the third quarter, up 35 percent from a year ago. The company forecast revenue of $49 billion to $51 billion, missing analysts' average estimate of $51.13 billion according to Thomson Reuters I/B/E/S. The world's largest publicly traded company by market value said it sold 47.5 million iPhones in the third quarter, up 35 percent from a year ago, but down 22 percent from 61.2 million in the second quarter.

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Apple gives weak forecast, shares fall more than 6 percent