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AAPL Drops After Earnings Release, Ticks Upward In Pre-Market Trading

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AAPL Drops After Earnings Release, Ticks Upward In Pre-Market Trading
[ Business]

Apple shares fell a bit after the company released its Q4 earnings and held its conference call. While there were some ups and downs to the report, the biggest concern from investors appears to be disappointing iPad sales, though the company just unveiled two models this week.

Apple did sell 14 million iPads during the quarter, which still represents 26% unit growth from the year-ago quarter. Apple also sold 26.9 million iPhones (58% unit growth), 4.9 million Macs and 5.3 million iPods. iPod sales continue to decline year-over-year.

Last month, Apple shares were as high as $700, but now they’re much closer to $600, closing at $609.54. They are up about 0.31% in pre-market trading.

Apple brought in $36 billion in revenue and quarterly net profit of $8.2 billion. That is up year-over-year from $28.3 billion in revenue and a net profit of $6.6 billion. International sales made up 60% of the quarter’s revenue.

CEO Tim Cook said, “We’re very proud to end a fantastic fiscal year with record September quarter results. We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline.”

Apple CFO, Peter Oppenheimer, added, “We’re pleased to have generated over $41 billion in net income and over $50 billion in operating cash flow in fiscal 2012. Looking ahead to the first fiscal quarter of 2013, we expect revenue of about $52 billion and diluted earnings per share of about $11.75.”

As far iPads, some users are not happy with the company for releasing the 4th-generation model so soon after the third. Some also think the iPad Mini is overpriced.

AAPL Drops After Earnings Release, Ticks Upward In Pre-Market Trading
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