Apple's stock price weakened significantly in pre-market trading after the company released its latest quarterly earnings report. While the company's revenue and performance in some business segments exceeded market expectations this quarter, management's revenue guidance for the next quarter fell short of analysts' forecasts, with investors more concerned about the risk of a slowdown in future growth.

Revenue and iPhone sales supported the performance.

Apple reported revenue of $10.942 billion for the current fiscal quarter, exceeding market expectations of $10.865 billion. iPhone revenue reached $5.425 billion, a 22% year-over-year increase, while Mac revenue also rose to $1.035 billion, both exceeding expectations.

Performance varied across different business segments.

Wearables revenue was $788 million, slightly above expectations. iPad revenue was $619 million, below market estimates of $692 million. Services revenue was $3.074 billion, also slightly below expectations.

Weak guidance puts downward pressure on stock prices

Apple expects revenue to grow 9% to 11% year-over-year this quarter, below analysts' expectations of around 12%. The company attributed its cautious outlook to supply constraints and a global shortage of memory chips. Management also mentioned that prices for some Mac and iPad products have been increased.