.
photo be hotblack
.
Apple(NASDAQ: AAPL) beat Wall Street’s third-quarter expectations which was expected but the company’s guidance for the this quarter seems to be below what the street was hoping to see from the tech giant.
.
The company said today that it earned $1.07 billion, or $1.19 a share, in the third quarter, compared with a profit of $818 million, or 92 cents a share, a year earlier.
.
Revenue climbed to $7.46 billion from $5.41 billion a year ago.
The average expectation from analysts was $1.08 eps which beats the street by about 9%
.
For the fourth quarter, Apple stated that they expect revenue of $7.8 billion and earnings of $1 a share. Analysts were expecting revenue of $8.32 billion and earnings of $1.24 a share.
.
That’s enough of the technical mumbo-jumbo. What I see is a great buying opportunity. The shares are down in after market trading to $148.50(@6:00pm) which is an 11% drop from where it closed today and may continue to drop a little more. As you may know that this is the company that has just released it’s new iphone on July 11th and Apple has said that they sold over 1 million of them in the first three days. The ipods are still selling at the same rate for some time now and with the younger generation having more than one each, I can’t see this stock staying anywhere near this level when they report again. It also looks like the MAC is making a comeback.
Recent Comments