Apple Inc.(NASDAQ:AAPL)’s results of the fourth fiscal quarter -- which closed last Saturday, Sept. 29 -- was supposed to be even weaker than the third. Various analysts had expected Apple to fare worse in their fourth quarter, than they had in their third largely on back of estimation that the company would release its iPhone in October.
As CEO Tim Cook explained to analysts last July, why the third fiscal quarter fared so badly. According to him, many people did not buy iPhones in the third quarter, since the news of the new iPhone5 was already out, and they were waiting to buy the newest model available. Cook had explained the results of Q3 to analysts in July, after the reduced earnings by the company, which gets more than half of its revenue through the sale of their unique smartphones.
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However, the reason why people had expected the fourth fiscal quarter to be more dismal was because they expected the new iPhone5 to be released October. Apple analysts had expected Apple to release the new model around the same time as the release of the iPhone4S. And it is with these expectations that the analysts did not hope for much revenue for apple by the close of the September quarter.
But in its Characteristic way, Apple surprised analysts and Wall Street by changing the release date for the phone to the 21st of September, this year. This lead to a whole of nine days worth of earnings for Apple for the fiscal 2012. the analysts were made to take back their word about their predictions, and immediately, the stock prices shot up, as did Apple’s revenue.
The new smartphone generated a frenzy that perhaps even the company had not anticipated. In fact, the company had indeed been unprepared for the demand, since they ran out of the product, what with people queuing up all over the world, to get to the new phone. The pre-sales booking s within the first twenty four hours of the bookings opening, itself, had generated more that two million orders.
The results of the fourth quarter will be announced on the 25th of October, and Tim Cook will discuss the results in a conference call, with the analysts.