Info from CNBC.
Apple (AAPL) has been pummeled lately being down 47% from it's all-time high. Stock price even went below for the first time since 2011. With the lack of new product updates, production delays and rumored iOS software redesign, AAPL seemed to have lost it's mojo. Analysts estimate that AAPL would still beat earnings but it's profit margins would be down year over year.
CEO Tim Cook said that the stock price decline has been very frustrating and that Apple does not control that; it controls product innovation. That being said, new product releases are now expected towards the end of 2013.
It was not all bad news for the Cupertino company. Apple sold 37.4 million iPhones in the quarter, compared with 35.1
million in the year-ago quarter. The tech company sold 19.5 million
iPads versus 11.9 million a year earlier. For most companies, those numbers would be awesome.
A little bit more good news for investors, AAPL's shares surged in after-hours trading (currently at $411.39) due to Apple's earnings numbers, Apple's announcement of a dividend hike of 15% and increase of stock repurchase from $10 billion to $60 billion. These moves should be enough to keep the stock price afloat while we patiently wait for the new hotness.
Long term, I'm still bullish with Apple and with numbers like these, how can I hate them Apples?
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