Featured Articles

IHS teardown reveals Galaxy S5 BOM

IHS teardown reveals Galaxy S5 BOM

Research firm IHS got hold of Samsung’s new flagship smartphone and took it apart to the last bolt to figure out…

More...
Galaxy S5, HTC One M8 available selling well

Galaxy S5, HTC One M8 available selling well

Samsung’s Galaxy S5 has finally gone on sale and it can be yours for €699, which is quite a lot of…

More...
Intel lists Haswell refresh parts

Intel lists Haswell refresh parts

Intel has added a load of Haswell refresh parts to its official price list and there really aren’t any surprises to…

More...
Respawn confirms Titanfall DLC for May

Respawn confirms Titanfall DLC for May

During his appearance at PAX East panel and confirmed on Twitter, Titanfall developer Respawn confirmed that the first DLC pack for…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 24 January 2013 09:49

Apple misses revenue forecast, again

Written by Rob Squires



Hype bubble comes crashing down


Apple posted its Q4 earnings late Wednesday and once again it managed to miss revenue forecasts, for the third quarter running.

The news did not go down well with investors and Apple shares fell 10 percent in after-hours trading, wiping out nearly $50 billion of its market value. However, the figures weren’t as bad as the market’s reaction seems to suggest.

Apple’s net profit was $13.1 billion and earnings per share were $13.81, which was actually higher than the Thomson Reuters consensus estimate of $13.47. Apple reported revenue of $54.5 billion, up from $46.3 billion in the same quarter a year ago. So what is going on here?

Apple managed to sell 47.8 million iPhones, up 29 percent year-on-year, but analysts had expected 50 million units. Mac sales were weak, 4.1 million units, down from 5.2 million units. As usual, iPod shipments also fell, from 15.4 to 12.7 million units year-on-year. However, iPad sales remain strong, with 22.9 million units, up from 15.4 million. It’s worth noting that a sizable chunk of these should be attributed to the iPad mini, with a lower ASP, and analysts fear that the mini is eating into 9.7-inch iPad sales.

Granted, it wasn’t an impressive quarter, but it wasn’t a disaster, warranting a massive selloff and double digit slide. It had nothing to do with Apple and the overreaction should be attributed to the media. They were on hand when Apple was soaring to $700 and were keen to promote the “$1000 Apple” myth, but as soon as their pet failed to deliver, they turned on it, viciously.

Scaremongering is the word of the day and when CNN beaks into its Davos coverage to report “weak” Apple earnings, you know something is very wrong.

 

Last modified on Monday, 04 March 2013 12:34

Rob Squires

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments