Apple’s all-time record earnings drag down NASDAQ futures

“A better-than-expected report on the labor market didn’t give a lasting boost to stock futures, which traded mostly lower on investor disappointment over Apple’s quarterly results,” Tomi Kilgore and Alexandra Scaggs report for The Wall Street Journal.

“Less than 60 minutes ahead of the open… the technology-heavy Nasdaq 100 futures slumped 38 points, or 1.4%, to 2720,” Kilgore and Scaggs report. “Shares of Apple slid nearly 10% in premarket trading after the technology heavyweight reported fiscal first-quarter earnings that exceeded analyst expectations but revenue that fell short of estimates and iPhone sales at the low end of views. In addition, the second-quarter revenue outlook was below current projections.”

Kilgore and Scaggs report, “The stock was on track to open at the lowest levels seen since February 2012.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

Related articles:
Gundlach: Apple ‘a broken company’ – January 24, 2013
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


  1. if they keep these earnings up for the next year they could see $750 by the end of next year…they just have to roll out the iphone 6 on time and the ipad 4 as well

    a companys stock follows earnings more than anything

  2. Wall Street has never liked revolutionary vision, it’s unmeasurable. So there has always been a negative narrative hovering in the background, which has only been held back by new products and blowout earnings. For most of Steve Jobs’ career, brokers/analysts criticized him, second guessed him, and just plain hated him, right up until he was dying, when the nay-sayers reversed their view of him so they could use his passing as a negative (the only time they were right). We have seen some wonderful upgrades but no new products for a while, and with Apple products now so universal, growth has become incremental. Wall Street sets the bar much higher on AAPL earnings. But it’s absurd for this fantastic company to be priced with a single digit P/E while other companies who are circling the bowl have triple the P/E, Netflix over ten times, and Amazon has a P/E in excess of 3000! Apple will never get fully valued by Wall Street and the long term negative folks are saying “I told you so.” The only way to shut them up is with fantastic new products.

  3. Don’t buy at this level. You will be sorry. Not only will you lose money, you can make a much better buy in the weeks just ahead. I’m buying as soon as Cook announces his resignation. AAPL will probably be in the mid $300 range, or lower, at that time.

      1. There is a strong prejudice against Cook. That’s what I see. I am okay with his lack of charisma. But this madness needs to stop. PPeterson, I don’t believe in you. You are dead to me. NT

    1. Really?!

      Why would investors want that and who would replace him. Tell me one person that could handle the huge highway of component and manufacturing issues they face, better then Cook? Come on….I’m waiting.
      If you are worried about the how they run the company and you think you can do better, then go out and do it. I believe there are many, many companies out there trying already and still can’t even come close.
      The issue is with Anal-ist’s and their made up numbers and projects. Those numbers are made up by a$$-wipes who throw out projections and have pissing contest to see who’s got the bigger dick.
      Then when APPL has the greatest quarter in history, by any company, they are still not happy and neither are you.

      Go put you money in something else, I hear Gold is sure thing lately.

  4. During this election it came to the people’s attention that Republicans are actually crazy. Now, I think it will come to people’s attention that Wall Street is also crazy, especially, when it comes to Apple (APPL). Keep in mind that the grifters of Wall Street caused the last depression and now this one. Long term, they’ve been pretty much wrong on most stocks (the only stock left on the original DOW is General Electric).

    1. … and GE is an economic traitor that actively undermines the US economy at every opportunity, avoiding taxes with impunity and killing domestic industry with reckless plant relocation to nations with little or no IP, labor, or environmental protection. If former US-based GE employees volunteered to work for free, their jobs would still be yanked out from under their feet.

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