Daily Rewind: Apple of my eye

Catch up on Apple earnings, Under Armour layoffs and more:

📱Apple releases stellar earnings:

• Apple reported more than $45 billion in sales last quarter, beating investors’ expectations. Apple’s stock was up 5% on the results.
• The tech giant also said it expects next quarter’s sales to come in at $52 billion, which suggests Apple is likely to launch its new iPhone 8 in September. (There had been earlier rumors of a possible delay.)
• Apple sold an impressive 41 million iPhones last quarter. Wall Street had been worried iPhone sales would fall as some fans hold out for the upcoming iPhone 8. Apple also shipped a little more than 11 million iPads, again beating Wall Street’s expectations.

👟 Not even Steph Curry can save Under Armour:

• The company announced it’s cutting 2% of its workforce after downgrading its sales forecast.
• Under Armour also reported a net loss of $12.3 million last quarter.
• It’s more bad news for the retail industry, which is struggling with widespread store closings and layoffs.

Check these stories out:

*Fox News concocted story with White House’s help, lawsuit says (CNN Media)

*Trump cheers as the Dow flirts with 22,000 (CNNMoney Video)

*Beyonce is interested in investing in the Houston Rockets (Bloomberg)

That’s all for today. We’ll see you again tomorrow!

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