“Apple’s holiday season proved to be a letdown, even though the company sold a record number of iPhones and iPads during its latest quarter,” Michael Liedtke reports for The Associated Press.
“The results released Monday further crystalized the challenges facing Apple as the world’s most valuable company struggles to lift its stock back to where it stood in September 2012. That was before investors began to fret about fiercer competition in mobile devices and the lack of a breakthrough product since the iPad came out nearly four years ago,” Liedtke reports. “Apple’s management amplified those concerns with a revenue forecast that fell below analysts’ predictions for the current quarter. The cautious outlook is likely to feed perceptions that Apple expects to lose more ground to competing devices running Google Inc.’s Android software.”
MacDailyNews Take: Among those afflicted with morbid idiocy.
“Apple’s stock to shed $45.45, or more than 8 percent, to $505.05 in extended trading after the release of results,” Liedtke reports. “By most measures, Apple Inc. had its best quarter during its fiscal first quarter, which ended Dec. 28. Besides hitting new quarterly highs for the sales of its most popular products, Apple also delivered earnings that exceeded analyst projections. It also produced the highest quarterly revenue in its 38-year history… The Cupertino, Calif., company sold 51 million iPhones during the three months ending Dec. 28. That marked a 7 percent increase from the previous sales record of nearly 48 million iPhones set a year earlier. Analysts, though, were expecting even bigger things and had predicted about 55 million iPhones in what is traditionally the company’s best quarter.”
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MacDailyNews Take: When the stupid panic, opportunity blooms.
MacDailyNews presents live notes from Apple’s Q114 Conference Call – January 27, 2014
Apple beats Street with record quarterly revenue, record iPhone and iPad unit sales – January 27, 2014