Apple Inc.(NASDAQ:AAPL) is the world’s largest company by market capitalization. Apple along with its subsidiaries firms engaged in mobile communications, media services, portable digital music players, software development, digital content and applications etc.
Should Investors Buy AAPL at CMP, Get Free Trend Analysis
Nowadays consumer canfind apple products much cheaper than earlier and thus attempts to buy cheaper versions of the product.This is really disappointing for investors who really think that the company would maintain sustaining profits and revenues.
As a result, giant Apple shares have fallen 6 percent and also it is revealed that revenues and profits are slowdown in Q3 as compared to Quarter 2.
This was the second time from 39 quarters that the company results missed the profit and revenue expectations made by analyst. Apple sold around 26 million iPhones in its quarter that ended by June 30. It was a 28% increase from a year ago quarter, but down significantly sequentially, when it sold 35 million iPhones
Apple's fiscal third quarter’s Net income was $8.8 billion, or $9.32 per share. That was up 21 percent from $7.3 billion, or $7.79 per share, a year ago.The expected earnings of analysts indexed by Fact Set were $10.37 per share.
How Should Investors Trade AAPL Now, Find Out Here
After the revealing of results Apple shares were declined $29.82 or about 5%, to $571.10 in pre-market trading on Wednesday.
The growth for Apple products was slowest and sales were declined and also failed to meet the analyst expectations.