Apple Inc. Failed to Set a New Sales Record

by - Thursday, October 20, 2011


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This is the first time in history of Apple Inc, where the stock market drop right after the announcement of iPhone 4S. Apart from that, the iPhone 4S stock market drop once again right after Steve Jobs passed away. Surprisingly, Google stock market is increasing when Apple 4S stock market went down.

There's have a lot of rumors regarding iPhone 5 before the iPhone 4S announcement. People had high expectation towards the Apple Inc. However, one of the reason why iPhone 4S receive more "Nay" instead of "Yay" due to the new features that iPhone 4S had. It is not much improvement other than "copy-android-features". Not too mention that SIRI features create a big joke around the world. Some people said it is pretty cool, some people said it is joker. - iPhone 4S New Features - Worth to Buy?

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According to the Peter Svensson who is the Associated Press,  Apple Inc. failed to set a new sales record in the last three months of founder and CEO Steve Jobs' life. Its financial results came in below expectations on Tuesday — a rare miss for the company. After several record quarters, the July-to-September period saw Apple biding its time, with no new iPhone or iPad releases.

Net income in the fiscal fourth quarter was $6.62 billion, or $7.05 per share. That was up 54 percent from $4.31 billion, or $4.64 per share, a year ago. Analysts polled by FactSet were expecting earnings of $7.28 per share.

Revenue was $28.3 billion, up 39 percent. Analysts were expecting $29.4 billion.
Apple sold 17.1 million iPhones in the quarter, which ended Sept. 24. That was well below analyst expectations and the 20.3 million sold in the third quarter. IPhone buyers had been holding off and waiting for the new model that was launched last week, after the end of the quarter. Still, analysts expected the older models to keep much of their appeal.

Apple's forecast for the current quarter was more pleasing to investors. It said it expects earnings of $9.30 per share and revenue of $37 billion. Apple usually low-balls its forecasts, and analyst figures are usually higher. But in this case, analysts have had lower figures, expecting earnings of $9 per share and revenue of $36.7 billion.

Jobs relinquished his position as CEO in August, after going on medical leave in January. He died Oct. 5 after years of battling pancreatic cancer.

Apple's stock was down $24.33, or 5.8 percent, at $397.91 in afterhours trading, losing one week of gains. - source

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