Apple’s cautious outlook overshadows $111 billion sales haul

Apple Inc. shares slid 2.9% in premarket trading Thursday after a cautious outlook from executives overshadowed quarterly revenue that topped $100 billion for the first time.

While the company didn’t provide an official forecast for the fourth quarter in a row, executives said sales growth from AirPods and other wearables will decelerate in the current quarter. They also warned that Services sales in the period will face tougher comparisons with a year earlier.

Overall, however, analysts saw the earnings report as a positive. RBC Capital Markets analyst Rober Muller wrote in a note that the market’s expectations were “elevated” coming into the numbers, but Apple “delivered on all fronts.”