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Apple Crushed As Dec Qtr Whiffs; Street Slashes Targets
Posted on January 24, 2013 at 10:08 AM EST
Apple shares are getting slaughtered in early trading Thursday, consistent with the sell-off in after hours trading on Wednesday, as the Street reacts with great disappointment and concern about the company's financial results for the fiscal first quarter ended in December. While profits edged consensus estimates in the quarter, revenues were lighter than expected, as sales of iPhones, iPads and Macs missed Street projections, and the company's March quarter guidance came in well below Street expectations.
Apple shares are getting slaughtered in early trading Thursday, consistent with the sell-off in after hours trading on Wednesday, as the Street reacts with great disappointment and concern about the company's financial results for the fiscal first quarter ended in December. While profits edged consensus estimates in the quarter, revenues were lighter than expected, as sales of iPhones, iPads and Macs missed Street projections, and the company's March quarter guidance came in well below Street expectations.
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