Thursday, October 25, 2012
Apple Inc. (AAPL) Misses Estimates; Shares Halted In after Hours Trading
Apple Inc. (AAPL) posted its earnings today, after the closing bell. The results have left more than a few people confused, and upset.
Although the company showed a 25% rise in profit this quarter, it seems that analysts were all wrong about just how well the company was doing. The tech giant missed estimates, and shares dropped in price, until they were halted in after hours trading.
The entire report can be read on ValueWalk.com, where all the numbers from the earnings report have been posted. In the meantime, it will be interesting to see just how much investors' confidence in the world leader of smart phones and tablets has been shaken. Share price has fallen since it reached its high water mark of $705 earlier this year, and this is sure to cause the price to drop even more.