Date: Monday, January 27th, 2014, 19:18
Category: Announcement, Apple, Business, Finance
The business and financial markets are a kooky thing. You can make a ton of money, even more than the previous year, but if it’s not as much as other people expected, you’ve failed. That is essentially what Wall Street is saying after todays earnings announcement from Apple. As a result, Apple stock price fell almost 6%. That is in spite of the fact that Apple sold a record setting number of iPhones and iPads, and better Mac sales than it did in the same quarter of last year. Apple made $13.1 billion in profit on $57.6 billion in revenue, driven by sales of 51 million iPhones and 26 million iPads. In addition, Mac sales in the first quarter clocked in at 4.8 million which was up from 4.1 million a year ago. That seems like it should be a win right, but the market predicted Apple to post $58 billion in revenues on sales of around 56.5 million iPhones and 24.5 million iPads. Seems a tad nit-picky if you ask me, but if you believe CEO Tim Cook, Apple couldn’t be happier;
“We are really happy with our record iPhone and iPad sales, the strong performance of our Mac products and the continued growth of iTunes, Software and Services. We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better.”
Well, I guess you can’t everybody, but as far as I’m concerned, Apple is healthy and doing great.