May 24, 2013 - 04:00 PM EDT — AAPL: 445.15 (+3.01, +0.68%) | NASDAQ: 3498.965 (+33.722, +0.97%)
“Tonight, Apple reported a disappointing quarter by missing expectations on most metrics. Revenues, EPS, iPhone units, iMac units, Gross Margin and next quarter guidance were lower than anticipated, and the stock traded down roughly 5% in the after market,” Darcy Travlos writes for Forbes. “nalysts had been lowering expectations for the last eight weeks due to new product expectations in the next two quarters, but the reality of lower gross margins, declining sales to Asia Pacific and flat retail traffic may create some concern in analysts’ reports tomorrow. However, investors interested in the long-term upside in Apple can take advantage of the stock dips and buy the stock. Herein I highlight subtle points from Apple’s earnings call worth noting.”
Travlos writes, “First, earnings expectations were $37B in revenues and $10.40 EPS. Apple delivered $35B in revenues and $9.32 EPS. While Apple did miss expectations, it did beat guidance of both $34B in revenues and $8.68 EPS, and it did post the third best quarter in its history. Please note, the two better quarters in Apple’s history were the previous two quarters this year, setting Apple up for its best year ever.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Richard Wolfert" for the heads up.]