“There’s something about inflated expectations, and it appears Apple just can’t win,” Gene Steinberg writes for The Tech Night Owl.If they beat those expectations, that should be a good thing, but if Wall Street decides it still wanted better numbers, as questionable as those estimates might be, well, that’s a bad thing.”
“So Apple had another blowout quarter. Apple earned higher revenues and higher profits than in any comparable quarter — ever. The company’s own guidance was exceeded,” Steinberg writes. “The iPhone and the Mac are growing sales ahead of saturated markets. But success is never enough when it comes to Apple.”
“In all, Apple recorded revenue of $49.6 billion for the June quarter, with net profits of $10.7 billon, or $1.85 per diluted share,” Steinberg writes. “This compares to June quarter revenue of $37.4 billion and $7.4 billion in profit last year. The financials were, by the way, above Apple’s usually conservative guidance… While the current quarter’s numbers seem impressive enough, Wall Street clearly expected more, and thus the stock price decreased in after-hours trading. That goes to show how Wall Street continues to misjudge Apple, so I shouldn’t be surprised.”
Much more in the full article here.
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