Apple Inc. (NASDAQ:AAPL) is trading above $600 with anticipations running high before the Company reports its third quarter results on July 24, 2012 and also with increasing rumors of the iPad maker is making a smaller version of its iPad tablet or the famous iPad mini.
As the Company’s earnings report date approach near, quite a number of analysts have cut their number of ipad and iPhone units slightly. The reduction in the estimated sale units comes due to a general slag and pause in the Company’s sales. Though the unit sale estimate have been slightly cut but analysts still maintain that the Company revenues in the coming periods will improve and grow further as the Company will cover up such product sale delay in the future. On an average analysts maintain that Apple will be generating $37.65 billion in revenue and will be reporting earnings per share of $10.39.
Apple’s iPhone5 which is estimated to be released in October but as soon as the product is released the sales will catch up all the losses due to the pause in sales experienced recently.
Also, the Company had announced that the new iPad®, the third generation of its category defining mobile device, will arrive in China on Friday, July 20. The new iPad features a stunning new Retina™ display, Apple’s new A5X chip with quad-core graphics and a 5 megapixel iSight® camera with advanced optics for capturing amazing photos and 1080p HD video.
Shares of Apple Inc. (NASDAQ:AAPL) was marginally up by 0.10% at $607.59 with trading hike in last one month being 6.15%.