Apple inc shares and revenues
Apple warns on holiday sales, sending value below $1 trillion
The forecast could also deepen concerns for technology companies that saw a sell-off after misses by Amazon.com Inc and Google parent Alphabet Inc.
Tim Cook called the valuation a “significant milestone” that gave the company “much to be proud of.”
The planned card would carry the Apple Pay brand and could launch early next year, the Journal reported, citing people familiar with the matter.
Apple’s quarterly results topped Wall Street forecasts, which dropped ahead of the report on growing concern over the iPhone.
Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected.
Apple had set aside $36.3 billion in anticipation of tax payments on its foreign cash, meaning the payment would not represent a major impact on its cash flow this quarter.
In a statement to Reuters, Apple said it has offered a range of controls on iPhones since 2008 that allow parents to restrict content.
Apple stock closed down nearly 2 percent at $100.70, amid a broadly lower stock market.
Investors are focused on the company’s next test; topping last year’s record holiday sales.
The stock fell 2% on Monday even after Apple announced record first-weekend sales of new iPhone 6S and 6S Plus
50 percent of the people hired by the iPhone maker are black, Hispanic, or native American women.
Apple Inc will buy Beats Electronics and bring recording mogul Jimmy Iovine into its ranks.
The company’s next incarnation of the iPhone series is expected to be launched in August.
The world’s most valuable technology company sold a record 51 million iPhones in the quarter.