Apple Earnings: iPhone Sales Disappoint, Shares Down
Apple (NASDAQ:AAPL) disappointed: earnings came in at $7.05, short of Wall Street expectations for $7.26. Revenues also came up short at $28.27 billion on expectations for $29.41 billion. These numbers are much lighter than independent analysts and whisper numbers (see below).
iPhone sales came in at 17.7 million, far short of the 22 million expected. iPad sales came in at 11.12 million above expectations for 10 million, Mac sales were up to 4.89 million, higher than targets for 4.5 million. iPod sales were at 6.62 million, below targets for 6.9 million.
Independent analysts were expecting revenues of $33.4 billion on EPS of $9.07. They expected iPhone units sales of 22.35 million, iPad sales of 13.13 million, Mac sales of 4.72 million, and iPod sales of 7.5 million.
Whisper numbers were expectations for revenues of $33 billion on EPS of $8.80. They expected iPhone sales of 22.35 million, iPad sales of 13.06 million, Mac sales of 4.72 million and iPod sales of 7.56 million.
Competitors to Watch on the News: Hewlett-Packard Company (NYSE:HPQ), Dell Inc. (NASDAQ:DELL), Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Netflix (NASDAQ:NFLX), Adobe Systems Incorporated (NASDAQ:ADBE), Intl. Business Machines Corp. (NYSE:IBM), Intel Corporation (NASDAQ:INTC), Super Micro Computer, Inc. (NASDAQ:SMCI), Research in Motion (NASDAQ:RIMM), Amazon.com (NASDAQ:AMZN) and Nokia Corporation (NYSE:NOK).
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