Apple earnings report shows that the company generated quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion in a record-breaking first quarter 2013. However, this was not enough for Wall Street. As a result, Apple naysayers were out celebrating in full force today.
Dan Lyons – Apple Blows Up As iPhone Sales Disappoint:
[quote] Apple just reported record results from the holiday quarter, and Wall Street is furious.
The reason? Though sales were $54.5 billion, up 18 percent from last year, they were still below what analysts had been expecting. This was the third quarter in a row that Apple has come up short.
Worst of all, sales of the iPhone were weak.
That news sent Apple stock into a nosedive. Shares plunged $54, about 10%, after earnings were reported.
…Still, it seems Apple has hit a wall. It’s not just about sales and earnings, but also about innovation. It’s been years since Apple did something truly revolutionary. Rumors of Apple getting into the TV market continue to swirl, but so far it’s all just rumors.[/quote]
Jeff Gundlach: Apple ‘A Broken Company‘:
[quote] I think this is really a broken company that is over-owned.[/quote]
However, John-Erik Koslosky attempts to put things into prospective…
John-Erik Koslosky – Confessions of a (Former) Apple Bear:
[quote] The Apple bears are finally enjoying their day in the sun. After years of earnings beats, blockbuster product launches, and rapidly ascending stock prices, Apple has finally taken a breather. And it didn’t take long for the buzzards to circle overhead, salivating at the coming doom.
I can empathize with these bears. Until 2011, I was one of them.
….Jobs was a genius. A true visionary. But even he did not unveil new blockbuster products every year.
The iPod debuted in January 2004. The iPhone came in January 2007, and the iPad arrived in January 2010. These were all revolutionary, game-changing products, all coming three years apart. And here we are three years since the iPad debut, wondering if Apple has lost its ability to produce blockbusters.[/quote]
