India, Aug. 3 -- Apple reported its best third quarter in five years, with strong growth across its business. Net sales increased 16.4% year over year in fiscal Q3 2026. iPhone sales were a major reason behind the growth, rising 21.7% from a year earlier. Overall product sales increased 18.1%. This was the first third quarter since fiscal 2021 when Apple's product sales grew faster than its services business.

Despite the strong results, Apple's stock fell 7.4% on July 31. The decline wiped out around $426 billion in market value in just two days, according to The Motley Fool. The sharp fall shows that investors were worried about Apple's future growth, even though the latest quarter was strong. The main concerns were weaker guidance, ris...