Apple Inc. (NASDAQ:AAPL)
is down 3.17% after reporting June quarter results which did not match analysts
expectations.
The iPhone maker had posted revenue of $35 billion
as compared to expected revenue of $37 billion. Guidance for its fourth quarter
and fiscal 2012 was also lower than analyst’s expectations. Apple guided for Q4
2012 revenue of $34 billion as compared to consensus estimate of $38.38 billion
and earnings per share of $7.65 as compared to consensus estimate of $10.32.
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But analyst
had put this guidance reduction to the air as they estimate this period to be a
stock clearance period which paves way and demand for its new product iPhone5
which is expected to debut in the October of 2012.
Apple is
also rumored to be trying to have high stakes in twitter by investing in
hundreds of dollars. This mulling has valued Twitter at $10 billion as compared
to the valuation of $8.4 billion received in 2011.
The Company
completed the week with various announcements and news. The most captivating
one is that Apple is purchasing AuthenTec which develops and markets finger
print checking applications. AuthenTec
also provides its fingerprint systems for authentication of mobile payments in
Japan, a technology that Apple can potentially bring to the U.S. market. Also, Apple had launched its OS X 10.8
Mountain Lion.
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Shares of Apple Inc are up 44.48% since the year started.
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