It seems that the not so great announcement of the iPhone 4S and the death of Steve Jobs really brought some further more bad news over at Cupertino – Apple missed its projected earning estimates for the first time after a long successful period. iPhone 4S sales were 17.1 million for the quarter, versus the expected 22 million. The stocks initially fell 7%, and now are up at about 3.6%. This definitely puts a lot of pressure on the fourth quarter, but Apple is still optimistic that they will get even better results than the next year. Also, don’t forget that iPhone 4S was announced in October, compared to its predecessor, which was launched in June 2010, so this may also be the cause of Apple’s missed estimates.
Here are the Wall Street’s expected numbers:
- Revenue: $28.3 billion vs. $29.41 billion expected
- EPS: $7.05 vs. $7.26 expected
- iPhone units: 17.1 million vs. 22 million expected
- iPad units: 11.1 million vs. 10 million expected
- Mac units: 4.89 vs. 4.5 million expected
- iPod: 6.62 million vs. 6.9 million
- Gross Margin: 40.3% vs. 39.6% expected
- December quarter revenue: $37 billion vs. $36.63 billion expected
- December quarter EPS: $9.30 vs. $8.96 expected
- Apple’s cash, short term, and long term marketable securities is now $81.6 billion.
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