“Apple stock could be headed to a level of $425 per share this quarter, DoubleLine CEO Jeff Gundlach said after the company reported disappointing earnings Wednesday,” Bruno J. Navarro reports for CNBC. “‘I think this is really a broken company that is over-owned,’ he said on ‘Fast Money.'”
“For the fiscal first quarter, it posted net income of $13.07 billion, or $13.81 a diluted share, compared to $13.06 billion, or $13.87 a share, a year earlier,” Navarro reports. “Gundlach also said that Apple stock remained ‘very, very much in the public’s psyche,’ which would keep share prices artificially high.”
Read more in the full article here.
MacDailyNews Take: Apple yesterday reported the fourth quarter of the most profitable year of any publicly-traded company. Ever.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]
Related articles:
Apple’s all-time record quarterly earnings disappoint – January 23, 2013
Jim Cramer: ‘Without Steve Jobs, Apple is just another stock, it’s not magical anymore’ – January 23, 2013
After posting new all-time record revenue, Apple shares collapse in after-hours trading – January 23, 2013
MacDailyNews presents live notes from Apple’s Q113 Conference Call – January 23, 2013
Apple reports record results: $54.5 billion revenue, $13.1 billion profit, $13.81 EPS – January 23, 2013
