Apple’s shares plummet by 5% after disappointing quarterly report
Apple’s stock price drove down by over 5 per cent, almost immediately after announcing its financial results for the first quarter of its 2013 fiscal year on Wednesday.
Even though Apple posted a record a quarterly profit of $13.1bn,quarterly revenue of $54.5bn, and earnings-per-share (EPS) of $13.81, investors were apparently not impressed.
Analysts had predicted that iPhone sales hover between 48 and 50 million, iPad sales would be between 22 and 23 million, and Mac sales would be a miniscule 5 million – which is to be expected, now that we are in the ‘Post PC era’
The exact iPhone sales were 47.8 million, iPad sales reached 22.9 million, and the number of Macs sold were 4.1 million