Arab Today, arab today apple hails results but outlook knocks stock price
Last Updated : GMT 08:07:17
Arab Today, arab today
Arab Today, arab today

Apple hails results but outlook knocks stock price

Arab Today, arab today

Arab Today, arab today Apple hails results but outlook knocks stock price

San Francisco - AFP

Apple shares slid about 10 percent after the tech giant posted record profits and sales of its iPhones and iPads but offered a disappointing forecast for the coming months. Apple said it made a profit of $13.l billion on revenue of $54.5 billion in the fiscal quarter that ended on December 29 as sales of iPhones and iPads set quarterly highs. \"Apple\'s profit did go up; it just didn\'t go up that much,\" said analyst Rob Enderle of Enderle Group in Silicon Valley. \"They had a really high increase in sales, but their high margin is coming apart at the edges and that is why investors are fleeing the stock,\" the analyst continued. \"They are making less per gadget.\" The California-based company reported that it sold 47.8 million iPhones and 22.9 million iPad tablet computers in the closing months of last year. \"We\'re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,\" said Apple chief executive Tim Cook. Despite the figures, some investors soured on Apple, after it forecast that its revenue for the current quarter would range from $41 to $43 billion and it would have a gross margin of from 37.5 to 39.5 percent. Apple has been long known for a high margin, the difference between what they charge for products and the cost to make them. Enderle referred to it as a \"Porsche model\" of creations crafted for the high end of a market. \"Steve Jobs traded on a Porsche model,\" Enderle said, referring to the late Apple co-founder and chief executive. \"Cook is shifting to more of a value model; he is chasing Samsung.\" Peter Misek, analyst at Jefferies, said Apple\'s results topped the consensus \"but fell short of our estimates.\" Apple shares dropped 9.8 percent to $463.49 in after-market trading that followed release of the earnings results. \"The most important thing is that our customers love our products,\" Cook said in an earnings call with financial analysts. \"Not just buy them; love them,\" he continued. \"Everyone at Apple has their eyes on the future.\" Apple\'s stock has been in a downward spiral since hitting a record level above $700 last year, amid concerns that it is losing its edge in innovation, and that rivals are catching up or surpassing Apple in key segments. Recently, the iPhone 5 made a lackluster debut in China and an analyst reported that Apple had cut orders for smartphone parts. Apple remains the world\'s most valuable company but its image has been hit by several factors, including an embarrassing release of its glitch-ridden maps program for the new iPhone. An IDC research firm survey last month showed Google\'s Android operating system will power more than two-thirds of smartphones sold worldwide in 2012, and will remain the dominant platform for at least the next four years. South Korean consumer electronics titan Samsung makes popular smartphones powered by Android software. Brian White at Topeka Capital Markets remained upbeat on Apple. \"There is quite a bit of bad news priced into the stock at current levels,\" he said. White said he was unfazed by Apple\'s \"signature conservative outlook\" and that the company is likely to get a lift from what he believes will be a new iPhone launch in May or June, and an \"iPad refresh\" in March. Cook referred to the tablet market as \"the mother of all opportunities\" and that Apple was positioned to benefit from iPads cannibalizing sales of personal computers. Apple said that it sold as many iPad Mini tablets as it could ship. He said the company was in its most prolific product introduction period since late co-founder Steve Jobs introduced the first Macintosh computer on January 24, 1984. \"Tomorrow marks the anniversary of a revolution,\" Cook said. \"We\'ve come a long way since 1984.\" Apple saw its biggest iPhone sales jump in China, where revenue surged, according to Cook. \"We are making great progress (in China),\" Cook said. \"I am very happy with how things are going. It is clear there is a lot of potential there.\" Cook advised analysts not to expect a larger-screen iPhone, praising the smartphone\'s screen and saying the company believed it is the right size. He also advised analysts to be wary of rumors about Apple trimming parts orders and what that might signal about demand for its gadgets. \"I don\'t want to comment on any particular rumor, because I would spend my life doing that,\" Cook said. \"It is good to question the accuracy of any particular rumor.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple hails results but outlook knocks stock price Arab Today, arab today apple hails results but outlook knocks stock price

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday