1. Michael Essany's Avatar

    Apple reported strong quarterly earnings Thursday even though the results missed analyst expectations.

    Profits spiked nearly 25% on impressive iPhone, iPad, and Mac sales. But Apple's earnings came in at $8.67 EPS vs. estimates of $8.75 EPS. Revenue, on the other hand, came in at $35.97 billion vs. estimates of $35.8 billion.

    Not withstanding the recent hype of new Apple products - including the iPhone 5, iPad mini, and 4th generation iPad - AAPL has fallen $100 from its all-time high logged just weeks ago amidst soaring investor optimism.

    For the last quarter, Apple managed to sell 26.9 million iPhones - a 58 percent spike over the same quarter last year. Apple also sold 14 million iPads - up 26 percent. Mac sales were strong at 4.9 million units, although the climb over last year's quarterly performance was very small.

    Not surprisingly, iPods sales continued to tumble at just 5.3 million units for the quarter. That's down close to 20% over the same time last year.

    For the fiscal first quarter, Apple said it expects earnings of $11.75 a share on $52 billion in revenue. Analysts currently expect earnings of $15.43 per share and $55 billion in revenue.
    “We’re very proud to end a fantastic fiscal year with record September quarter results,” said Apple CEO Tim Cook today. “We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline.”

    Source: CNBC
    2012-10-25 10:59 PM