Asian suppliers to the smartphone maker retreated. Japan Display Inc. dropped 4.1 percent in Tokyo, while AAC Technologies Holdings Inc. sank 6.9 percent in Hong Kong.
Apple Recovery
Apple had recovered almost 10 percent in the past two weeks leading up to earnings, after being pushed to the brink of a correction. The shares dropped 9.7 percent from an all-time high in February through July 9, erasing $83 billion of market value, amid concern a rout in China’s market would leave consumer with less money to buy gadgets.
Yahoo fell 1.8 percent in late trading Tuesday after forecasting sales in the current quarter below analysts’ estimates, a sign Chief Executive Officer Marissa Mayer’s turnaround effort is still a work in progress.
Microsoft slid 4 percent following its largest-ever quarterly net loss, hurt by a $7.5 billion writedown after the purchase of Nokia’s handset unit failed to rescue the company’s mobile business.