360° Coverage : Disappointing Results for Apple In Spite Of iPhones’ Success

1 Updates
Disappointing Results for Apple In Spite Of iPhones’ Success
Photo Credit: Getty Images

Disappointing Results for Apple In Spite Of iPhones’ Success

Oct 30 2013, 2:31pm CDT | by

Not even selling 33.8 million iPhones in September quarter could help improve Apple’s unremarkable third quarter results

As a result of less than great third quarter numbers, Apple’s stock slid 5 percent at one stage on Monday. Even Wall Street predicted better quarterly sales, based on Apple forecasted in September...

Filed under: rumors

YouTube Videos

 
 
 

1 year ago

Disappointing Results for Apple In Spite Of iPhones’ Success

Oct 30 2013, 2:31pm CDT | by

Not even selling 33.8 million iPhones in September quarter could help improve Apple’s unremarkable third quarter results

As a result of less than great third quarter numbers, Apple’s stock slid 5 percent at one stage on Monday.

Even Wall Street predicted better quarterly sales, based on Apple forecasted in September that its margins and revenue for the third quarter would be high, or as Apple’s Tim Cook predicted ’really great’. Apple’s expected revenue for this quarter was $55 to $58 billion, while Wall Street forecasted about $55.65 billion.
Holiday season is a crucial time for Apple. New iPads will be competing with Kindle Fire from Amazon.com Inc and with cheap Samsung Electronic gadgets, all using Android software.

A growing number of lower-cost rivals, as well as much higher demand for Apple’s cheaper, colorful iPhone 5C in comparison with its lagging, more expensive relative 5S, are raising question about Apple’s smartphone market positioning. Investors are worried that Apple missed the opportunity to come up with cheaper phone that could successfully fight off Samsung in China.

Apple’s revenue from Hong Kong, China and Taiwan are up by 6 percent in the quarter, to $5.7 billion. In comparison with the previous quarter, sales went up by 24 percent, from about $1.1 billion, but were lower than $1.4 billion that Apple made in the last quarter of 2012.

Alex Gauna, JMP Securities analyst considers Apple ‘a very healthy company, but not a growth company.”

During his discussion with analysts, Cook did not mention the popularity of the iPhone 5C but did mentioned "a very significant backlog" for much more expensive iPhone 5S.

Some investors hope that Apple will again come up with some revolutionary device  after the holiday season and bring Apple back to its stellar past growth. Some shareholders are aggressively demanding a bigger return of cash. The demand is led by Carl Icahn, a billionaire who owns about 4.7 million Apple shares. Icahn is demanding that Apple buys back more than $150 billion of its own stock.

Source:  Reuters

 

Don't miss ...

 

<a href="/latest_stories/all/all/25" rel="author">Bijon Kumar Pramanik</a>
Bijon Kumar Pramanik is an experienced technology writer working since years in the consumer electronics field.

 

blog comments powered by Disqus

Latest stories

The Best Black Friday 2014 iPad Deals
The Best Black Friday 2014 iPad Deals
The Amazon Black Friday 2014 Sale has been released. The Amazon Black Friday 2014 begins earlier than ever before. In past years the Amazon Black Friday deals week started on Sunday.Besides Amazon, Walmart has kicked...
 
 
The Best Apple TV Black Friday Deal
The Best Apple TV Black Friday Deal
The Best Apple TV Black Friday 2014 deals is surprisingly from the Apple Store.
 
 
Apple’s Share Achieves Record Breaking Value
Apple’s Share Achieves Record Breaking Value
The share value of the Cupertino company increased by 1.85% to $118.63 yesterday.
 
 
Apple Store Black Friday 2014 Sale uncovered
Apple Store Black Friday 2014 Sale uncovered
The Apple Store Black Friday 2014 Ad is here. The Gift Card deals are lower than last year, but more products qualify.
 
 
 

Latest from the Network

Collective efforts more important in Saarc region: Modi
Kathmandu, Nov 26 (IANS) Nowhere in the world are collective efforts more important than in south Asia, Prime Minister Narendra Modi said at the South Asian Association for Regional Cooperation (Saarc) Summit here...
Read more on Politics Balla
 
Modi speaks of Mumbai attack anniversary at Saarc
Kathmandu, Nov 26 (IANS) Prime Minister Narendra Modi Wednesday recalled the horror of the 2008 Mumbai terror attack at the Saarc Summit and stressed on the need to combat "terrorism and trans-national crimes". "Today...
Read more on Politics Balla
 
Money transactions via Bitcoin not safe
London, Nov 26 (IANS) Researchers have shown that money transactions via Bitcoin network do not protect user's IP address and it can be linked to the user's transactions in real-time. The team demonstrated that only a...
Read more on Business Balla
 
India can connect Saarc students through e-libraries: Modi
Kathmandu, Nov 26 (IANS) Prime Minister Narendra Modi Wednesday said India is prepared to connect students in the south Asian region through e-libraries. "IT has removed all barriers to quality education. India is...
Read more on Politics Balla
 
Court orders Maradona to pay for slander victim's legal fees
Buenos Aires, Nov 26 (IANS) Famed Argentine ex-footballer Diego Maradona must pay the legal expenses of Shanghai Shenhua team coach Sergio Batista for alleging he took bribes from national players, an Argentine court...
Read more on Sport Balla
 
Life-saving bacteria found in turkeys
New York, Nov 26 (IANS) The biological machinery needed to produce a potentially life-saving antibiotic is found in turkeys, researchers have found. "Our research group is certainly thankful for turkeys. The 'good...
Read more on Business Balla
 
Taylor Swift values Lorde friendship
Taylor Swift says Lorde and Lena Dunham as the ''most important'' people in her life at the moment. The 24-year-old musician really appreciates the friendship of the pair and insists it's great to have peers you like...
Read more on Celebrity Balla
 
Susan Boyle: Catholic upbringing has made me single
Susan Boyle blames her single status on her Catholic parents' ''coded behaviour''. The 'Wild Horses' singer has revealed her mother and father's strong Christian beliefs have affected the way she approaches romantic...
Read more on Celebrity Balla
 
Black Friday looks good for Kohl’s
Kohl’s has released their Black Friday 2014 advertisement flier. The big draw to Kohl’s for this year’s version of Black Friday is that the company will have over 500 deals in store. Kohl’s will start their Black...
Read more on Black Friday Countdown
 
Jennifer Aniston felt 'uncomfortable' filming Horrible Bosses 2
Jennifer Aniston felt ''uncomfortable'' filming scenes for 'Horrible Bosses 2'. The 45-year-old actress has admitted to feeling a little uncomfortable as she filmed some sexually provocative scenes with some extras for...
Read more on Movie Balla