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01-27-2014, 02:58 PM #1
Apple Earnings: AAPL Falls After Company Reports Record iPhone, iPad Sales
It's a contradictory headline but a reality, nonetheless. Despite posting record iPhone and iPad sales for the company's first fiscal quarter of 2014, shares of AAPL are moving downward in after-hours trading.
Moments ago, Apple posted earnings of $14.50 a share on sales of $57.59 billion. All told, iPhone and iPad sales for the December quarter broke records for Apple. During the holiday quarter, Apple sold 51 million iPhones and another 26 million iPads.
Wall Street was expecting Apple to post closer to $58 billion in revenues on sales of at least 56 million iPhones and 24.5 million iPads.
Consequently, shares of Apple initially dipped more than 5 percent after the numbers broke.
"We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, Software and Services," Apple CEO Tim Cook says. "We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better."
MMi will have continuing coverage of today's report following the company's earnings conference call.
01-27-2014, 03:58 PM #2
Just proves how insane analyst's expectations are when a company can beat prior year sales by over 6% for one product, reverse negative YOY sales trend for others, make record revenues, make a major break into one of the biggest markets in the world, and still the stock price of the already undervalued company can fall nearly 10% after said results.
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01-27-2014, 05:10 PM #3
stock manipulation much?
01-27-2014, 05:19 PM #4
Oh no! Apple fell $400million short. Lol
01-27-2014, 07:32 PM #5
01-27-2014, 09:28 PM #6
Oh noes, Apple stock fell. Time to jump off the sinking ship... Or not... It's not like they AREN'T still going to be wildly successful for years to come.
01-27-2014, 11:50 PM #7
Better odds in Vegas!
01-28-2014, 07:06 AM #8
01-28-2014, 09:30 AM #9
It's unbelievable that, in one quarter, AAPL can sell 51 million iPhones and make $13.1 BILLION PROFIT (that's $1 billion profit per week), and yet still disappoint wall street.