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.