“Apple Inc. suppliers Samsung Electronics Co. and Toshiba Corp. led declines in Asian trading and Hon Hai Precision Industry Co., the iPhone and iPad assembler, fell after the world’s most valuable tech company missed profit estimates,” Naoko Fujimura reports for Bloomberg. “Toshiba, the world’s largest flash memory maker after Samsung, slumped 7.3 percent, the steepest drop since the plunge after Japan’s March 11, 2011 earthquake, to 242 yen at the close of trading in Tokyo. Hon Hai dropped 4.3 percent, the biggest slump since April 30, to NT$81.90 at the Taipei close… Samsung dropped 1 percent to 1.16 million won as of the close in Seoul trading.”
Fujimura reports, “Apple itself fell 4.9 percent in German trading, adding to concern orders for components to make the iPhones and iPad tablet computers may slow. Apple missed analysts’ estimates as customers held off on iPhone purchases while waiting for a new model to be introduced later in the year… Among other suppliers, Seiko Epson Corp. (6724) declined 7.5 percent, Sony Corp. slumped 5.2 percent, LG Display Co. lost 4.8 percent and Sharp Corp. plunged 10 percent.”
“Apple’s net income climbed 21 percent to $8.82 billion, or $9.32 a share, in the period that ended June 30, the Cupertino, California-based company said yesterday in a statement,” Fujimura reports. “Sales rose 23 percent to $35 billion. ”
Read more in the full article here.
Apple’s earnings miss could take down the stock market – July 24, 2012
Apple misses estimates with $9.32 EPS on $35.0 billion revenue – July 24, 2012