Tuesday, October 18, 2011

Apple earnings miss

As usual, investors had high expectations for Apple quarterly earnings, especially after smashing iPhone sales records. 

But Apple missed expectations today. Apple reported third-quarter earnings of $7.05 a share, on revenue of $28.3 billion. Analysts, on average, expected Apple to earn $7.22 a share on revenue of $29.5 billion.

Apple has not missed earnings forecasts since the second quarter of 2002, according to FactSet data.

It might be too early to say Apple already has begun its descent from its heights under Steve Jobs. Some say there is no worry. Others say it will be a few years until people notice something is different. 

Skeptics might say things already are different. 

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