Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Apple shares are starting to reverse downwards

Apple reported quarterly earnings that topped analysts' estimates and revenue that was in line with expectations on Tuesday, as it saw better-than-expected iPhone sales.

But the quarterly results marked the third straight quarter where Apple posted a year-over-year revenue decline.

The iPhone maker reported earnings per share of $1.67 per share, just above the $1.66 expected by a Thomson Reuters consensus estimate. Revenues came in at $46.9 billion, just shy of the $46.94 billion expected.

That's still down from the comparable year-ago figures of $1.96 a share on sales of $51.5 billion.

Rising wedge on daily chart was waiting for bad news and looks like it may be it