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back to article Apple misses earnings targets, Street reacts

Apple released its earnings report for the third quarter of its 2012 fiscal year, and its numbers came in well below most Wall Street moneymen's projections – largely, it seems, on a steep quarter-to-quarter drop in iPhone sales. Shares in after-hours trading took an immediate hit, down from just over $600 per share before the …

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  1. g e
    Facepalm

    The RIAA defence

    You reckon the 'cause' will be

    "It's because everyone else is illegally copying our proprietary rectangles and round corners"

    rather than

    <ul>

    <li>"We spent 50 gajillion on lawyers to hound the competition (even though we're perfect and therefore have no competition, the consumer isn't)"</li>

    <li>"The market is largely saturated and the remaining buyers see through our high-priced 'value proposition"</li>

    <li>"No-one's buying because they know we're releasing another small revision in a couple of months"</li>

    <li>"We've been advertising Android devices via our lawyers for too long and it's bitten us in the arse"</li>

    <li>"No-one likes us any more"</li>

    </ul>

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    1. g e
      Reply Icon

      Re: The RIAA defence

      Scrub the lawyers entry it's devices sold not revenue on that chart ;o)

      Just before AC points it out mid-flame.

      Pity <li> doesn't work :o/

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  2. hexx

    who cares about analysts? Apple hit their target and are $1B over that target.

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  3. Alan 6

    Shock

    New stuff sells well, old stuff sells less well

    No wonder the wall street brokers earn so much for figuring stuff like this out

    1 0
    1. Blane Bramble
      Reply Icon
      Holmes

      Re: Shock

      Continually increasing sales graph in change of direction shock. City analysts quoted saying "we've never seen that happen before".

      Maybe people are waiting for the iPhone 5. Maybe sales are approaching saturation level for the market.

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      1. Mikel
        Reply Icon

        Re: Shock

        >Maybe sales are approaching saturation level for the market.

        Yeah, keep thinking that. Please.

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  4. Anonymous Coward
    Anonymous Coward

    Does anyone else find it a bit creepy? A world full of iClones and no one to question it?

    *SHUDDERS* Eww!

    I regularly demonstrate 'droid and windows phone handsets and all who are interested, and people are impressed by both options. People regularly say that "they thought only an iPhone could do that", and "really, an iPhone doesn't do that?"

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    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      I’m sure they are just placating you so you don’t go off on some ridiculous frothing anti-Apple rant, unless you save all that for this forum and the real people around you are, thankfully, spared

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      1. Anonymous Coward
        Reply Icon
        Anonymous Coward

        Is that a considered opinion? FM!

        Didn't think it was possible, especially from an AC.

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  5. ForthIsNotDead
    Meh

    Ignore the graph

    Quarter to Quarter sales comparisons are worthless. By that 'statistic' they would be criticised for selling well in Q4 (run up to Christmas) and seeing sales drop in Q1 of the next year (duh).

    Sales should be compared to the same quarter of the previous year.

    That said. It Shirley has to be a bubble. I mean, once everyone on planet earth has a bloody iPhone, it *has* to *at least* start to tail off, doesn't it? I mean, not everyone will replace their iPhone when the new model comes out. What about those on multi-year contracts?

    Full disclosure: HTC Desire owner, though *seriously* considering getting my (perfect working order) Nokia 6310i back out of the cupboard. I'm effing sick of being spied on by effing Google. I note that Google now knows the geographical location of my home network. I also notice that it has (correctly) determined that I am in the market for a new bathroom suite. Nice.

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  6. Steve I
    Paris Hilton

    Quarterly sales...

    I invested in a Christmas tree farm. Sales were good in December but nose-dived in January. Extrapolating the trend, I forcast zero demand within 18 months, so sold up.

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  7. IHateWearingATie

    The whole estimates and quarterly reports process is broken...

    ... and this is a great example of why. Apple beat the year on year Q results and Previous Year to Date totals and their share price drops approx 5% ! The pointless cycle of hyping share prices up or down based on expectations of quarterly results makes it difficult for businesses to invest for the future and actually harms shareholder return in the long term. That's not to say the financial sector is the only one to blame - companies such as Apple (until very recently) refuse to pay dividends to their shareholders (who CEOs seem to forget are the owners, not them), expecting share price growth to provide adequate returns.

    This is getting horribly off topic, so consider this - what became the mobile phone division of Nokia lost money for 17 years in a row. Despite recent management screw-ups, it has been immensely profitable for shareholders in the long term - who thinks that might have happened under the treadmill of Q on Q analysis?

    PS I'm neither a hater or a fanboi - I like my iPhone 4s, but I'm also deeply impressed by my newly arrived Nexus 7 Andriod tablet.

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    1. Mikel
      Reply Icon
      Stop

      Re: The whole estimates and quarterly reports process is broken...

      Dividends are for utility stocks, not tech growth stocks. It's the same idea as bootstrapping entrepreneurs forgoing salary to get their baby off the ground. This is all gambling, so the question becomes where in the spectrum of gambling are you comfortable?

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  8. Doug Glass
    Go

    Two steps forward ...

    ... one step back. Long Term Outlook will rule the day, not temporary perturbations in the money stream.

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  9. Chris007
    Trollface

    Hmmm.

    article said "were prepared to see iPhone sales take a bit of a dive while users waited for the next-generation iPhone to appear, likely later this year – and that's exactly what happened, if you remove "a bit" from that sentence"

    If you remove "a bit" you get :-

    were prepared to see iPhone sales take of a dive while users waited for the next-generation iPhone to appear, likely later this year – and that's exactly what happened, if you remove "a bit" from that sentence.

    Trolling 'cos I'm bored

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