Apple hits a rare bump in the road. Maker of iPhones and iPads posts earnings growth of more than 50% for the quarter, but even though consumers were seen likely holding off to wait for the new iPhone, expectations were very high, tech editor Dan Gallagher told the Wall St Journal.
The company didn't sell as many iPhones as Wall Street was hoping for in the recent quarter, a period during which co-founder Mr. Jobs handed the reins to new Chief Executive Tim Cook. Mr. Jobs died after a long battle with pancreatic cancer earlier this month.
Apple said Tuesday it sold more than 17 million iPhones in its fiscal fourth quarter ended Sept. 24, up from more than 14 million a year ago but lower than the 20 million or more that analysts had been expecting. Apple's shares, which have been climbing to record highs recently, dropped 6.5%, or $27.43, to $394.81 in after-hours trading Tuesday following the results...
Read more at http://online.wsj.com/article/SB10001424052970204346104576639444061077086.html?mod=business_newsreel
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