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

 
 
 

47 weeks 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

PayPal Willing to Work with Apple Pay
PayPal Willing to Work with Apple Pay
John Donahoe indicates his willingness to cooperate with Apple Pay
 
 
Apple Declares to Release the iPhone 6 and iPhone 6 Plus in China on October 17
Apple Declares to Release the iPhone 6 and iPhone 6 Plus in China on October 17
Apple says that the launch of the new iPhones in China will take place on October 17
 
 
Samsung Reportedly Manufacturing iPad Air 2 and 12.9-Inch “iPad Pro” Panels
Samsung Reportedly Manufacturing iPad Air 2 and 12.9-Inch “iPad Pro” Panels
The Korean giant will continue to work with the Cupertino company for producing panels for the next iPads
 
 
Each Unit of Apples Watch’s AMOLED Screen Reportedly Costs $27.41
Each Unit of Apple Watch’s AMOLED Screen Reportedly Costs $27.41
The cost of the AMOLED display of the new smartwatch is pretty high
 
 
 

Latest from the Network

Hong Kong students threaten to occupy government offices
Hong Kong, Sep 30 (IANS/EFE) Student demonstrators have decided to step up their street protests and are planning to eventually take over and occupy government offices, leaders of the Hong Kong Federation of Students...
Read more on Politics Balla
 
US slaps sanctions on Pakistan-based terror groups
Washington, Sep 30 (IANS) The US Tuesday targeted two terrorist groups based in Pakistan by slapping sanctions on their leader and financial supporters. The Department of Treasury branded Fazl-ur Rehman Khalil, the...
Read more on Politics Balla
 
Elton John performed at Neil Patrick Harris' wedding
Neil Patrick Harris has revealed Sir Elton John gave a surprise performance at his wedding. The 'Gone Girl' star tied the knot with his long-term partner David Burtka at a castle near Perugia in Italy on September 6 and...
Read more on Celebrity Balla
 
Molly Sims pregnant again
Molly Sims is pregnant with her second child. The model-and-actress has announced she is expecting another baby with her husband, film producer Scott Stuber, and she can't wait for their two-year-old son Brooks to...
Read more on Celebrity Balla
 
Sadie Frost says Kate Moss oozes 'sex'
Sadie Frost thinks Kate Moss ''radiates sex''. The 49-year-old actress-and-producer has been friends with the supermodel for decades and says her aura has an permanently erotic element to it. Speaking to the new issue...
Read more on Celebrity Balla
 
Hamas wants Islamic state on all Palestinian lands: Official
Gaza, Sep 30 (IANS) A senior Hamas official announced Tuesday that his movement still believes in establishing an Islamic state on all the lands of Palestine. Mahmoud al-Zahar, the Hamas strongman, said in a ceremony...
Read more on Politics Balla
 
Asian Games: Indian men and women in semifinals
Incheon, Sep 30 (IANS) The Indian men and women's kabaddi teams made it to the semifinals of the 17th Asian Games after topping their respective groups here Tuesday. The men's team, record six time champions, brushed...
Read more on Sport Balla
 
Israeli settlers seize houses in east Jerusalem
Jerusalem, Sep 30 (IANS) Dozens of Jewish settlers, escorted by heavy police force, took over at least seven empty buildings in the Palestinian neighbourhood of Silwan in east Jerusalem Tuesday. The buildings are...
Read more on Politics Balla
 
Indian men paddlers in Asiad pre-quarters
Incheon, Sep 30 (IANS) Indian men paddlers advanced to the doubles pre-quarterfinals after winning their respective matches of the 17th Asian Games at the Suwon Gymnasium here Tuesday. First up, the pair of Achanta...
Read more on Sport Balla
 
IS releases third video of British hostage
Beirut, Sep 30 (IANS/EFE) The Islamic State (IS) Sunni radical organisation has published a third video of British journalist and hostage John Cantlie in which he criticizes US President President Barack Obama's...
Read more on Politics Balla