Wednesday 23 January 2013

Apple reports record numbers and tanks another 10% in after hours!

Apple closed at $514.01, +$9.24 (+1.83%).

In after hours trading the shares increase further to $527.97 ahead of the earning announcement.
Apple then reports record quarterly numbers (http://www.apple.com: Apple Reports Record Results), over and above last years Christmas quarter despite there being one less week this time around:
- $54.5bn revenue ($46.3bn)
- 47.8m iPhones sold
- 22.9m iPads
- $137bn cash

Net income was barely up though and rounds to the same $13.1bn as last time. 
But, as there were more shares in issue the eps is down slightly at $13.87 per share ($13.91).
Which also means that gross margins are also down at 38.6% (44.7%), following the launch of major new products.

With so much focus on the negatives as well as Q2 guidance of $41 - $43bn the shares proceeded to sink like a stone and, as I write, are now down more than 10.74% @ $458.78 (-$55.23).

Its just incredible watching this, and soul destroying.
And here's me thinking its about investment and fundamentals.

Feels more like manipulation than investment, or poker.

Related article links:
http://www.apple.com: Apple Reports Record Results
http://www.thestreet.com: Apple Earnings Live Blog
http://www.marketwatch.com: Apple below $500 after hours on weak view

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