"I'm not going to call Q3 a throwaway quarter for iPhones, but it was definitely transition," he said.Įarlier, chip maker Intel beat Wall Street's third-quarter sales targets, helped by strong demand for computers in China. "With the early pace of iPhone 4S sales, my guess is that disappointment is relatively short-lived." "There's no question this was a transition quarter ahead of the 4S," said WP Stewart portfolio manager Michael Walker. They need to set records every time they report to keep up the momentum."
#Apple store 5th ave upgrade#
"They had a big upgrade cycle with the iPhone, the numbers came in weak. They have to sell their quarter's worth of revenue every 90 days." "The reality is their business is not an annuity. "Expectations for this company were red-hot, that is why we downgraded it,'' said BGC Partners analyst Colin Gillis, who lowered his rating on the shares days before. 5.Ĭook takes over during a critical juncture for the company, which is battling a fast-rising Google in the mobile arena while fending off consumer electronics giants such as Samsung and.
This was the first quarterly report issued by Apple under the leadership of CEO Tim Cook, who took the reins in August after Steve Jobs stepped down. "One of the things obviously is the iPhone 4S just started shipping a few days ago." It's a timing issue, where it looks like the business that people thought would be in the September quarter is occurring in the December quarter," said Sterne Agee analyst Shaw Wu. "What is interesting is the guidance is less conservative than usual for their next quarter. Apple said it expects earnings of $9.30 a share for the first quarter analysts had expected $9.01 a share, according to Thomson Reuters. The company did, however, deliver a better-than-expected outlook for the fiscal first quarter, which starts in October. International sales accounted for 63 percent of the quarter's revenue. Gross margin came to 40.3 percent, a tad higher than Wall Street's forecast of 39.74 percent. IPod sales fell 27 percent to 6.62 million. With its distinctive, luminous glass cube rising above a newly designed public plaza, Apple Fifth Avenue is ready to resume its place at the heart of one of the world’s most vibrant creative communities.
#Apple store 5th ave mac#
IPad sales more than doubled to 11.12 million, while Mac sales jumped 26 percent to 4.89 million. New York Apple today previewed the new Apple Fifth Avenue, an entirely reimagined space beneath one of New York City’s most recognized landmarks. The company sold 17.07 million iPhones during the quarter That was a 21 percent increase from a year earlier but Wall Street had expected something in the 18 million to 20 million range, given that 20.3 million were sold in the third quarter.Īpple's CFO said that number beat their internal projection but sales were hurt by customers waiting for the new version of the iPhone. It was the first miss for the company since 2004. Analysts had expected the technology giant to earn $7.39 per share on revenue on $29.69 billion.
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