Apple is the last of the remaining FAANG to report for the third quarter. The others did not do well meaning there was a lot riding on Apple's announcement.
The company did beat both on revenue and EPS. The problem is IPhone sales missed with poor guidance.
After hours movement of the stock sent the price plummeting.
On the conference call, it was announced that next quarter there will no longer be unit sales for IPad, IPhone, or Mac reported. This caused another leg down in the stock price.