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Apple Shares Fall Despite Higher than Expected Profits

Apple Shares Fall Despite Higher than Expected Profits

You can't win them all. Despite registering strong profits, Apple's share price has fallen sharply in after-hours trading. Perhaps investors are taking the opportunity to walk away with their profits, especially with iPad sales, while still going strong, only at 4.2 million, with just a 28% gain over the previous quarter. Of course, Steve Jobs also took the opportunity of the earnings call to blast rivals from RIM to Google to slamming the idea of a 7-inch tablet.

BBC News - Apple shares drop 7% in after-hours trading, despite reporting expectations-beating profits of $4.3bn (£2.7bn) for the last quarter. The net income figure - announced after the close of trading in New York - was up 70% on a year earlier, and beat expectations of $3.8bn. But the company's stock responded by falling sharply. Apple's shares have hit historic highs lately, and the drop may be due to speculators selling to lock in profits.

Click here for the full story and here to listen to Steve Job's himself.

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