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.
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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.
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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.
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