Apple posts record iPhone and iPad figures but misses sales targets

24 Jan 2013

Apple announced record quarterly sales of iPhones and iPads for Q1 2013 of its fiscal year - but still missed many analysts' sales and revenue expectations, causing a drop in the Apple share price.

A record 47.8m iPhones, up from 37m in Q1 2012, fell short of targets, with many experts having predicted Apple would hit 50 million iPhone sales thanks to the release of the iPhone 5.

The company also shipped a record 22.9m iPads, up on 15.4m Q1 2012, buoyed no doubt by the release of the iPad Mini

Apple's financial results also revealed 12.7m iPod sales, down on the 15.4m sold in Q1 2012, as smartphones continued to replace dedicated portable music players.

Apple's share price, which had already dropped 30% since September 2012, dropped a further 10% in after-hours trading after the announcement, which was made by Apple CEO Tim Cook.

Analysts are speculating as to whether Apple can continue to grow at such a rapid rate as Android rivals, such as Samsung's flagship Galaxy S3 and the Google Nexus 4, increase their market share.

Sales figures released for the US this week showed LG had taken 2nd spot from Apple, with Samsung out in front.

Nevertheless, Apple posted record quarterly revenue of $54.5 billion and a quarterly net profit of $13.1 billion. Average weekly revenue was $4.2 billion in Q1 2013 compared to $3.3bn in Q1 2012.

Tim Cook said: "We're thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter. 

"We're very confident in our product pipeline as we continue to focus on innovation and making the best products in the world."

Follow whathifi.com on Twitter.

Join us on Facebook.

  • Digg

Comments

"...but misses sales targets."

Apple didn't miss anybody's sales targets other than those concocted by various market analyst companies and speculators, who have consistently overstated their own expectations in order to manipulate stock prices.

Apple don't publish their sales targets, but the actual sales figures released have exceded the market guidance issued at the beginning of the quarter, i.e. they have done better than expected, not worst.

In the meantime, profits have continued to grow and their cash reserves get bigger.

The share price and therefore market value of the company has returned to where it was a year ago, before the same analysts and speculators triggered the frenzy that saw the share price shoot through the roof to an unrealistic level for a few brief months. The fall in share value only hurts those who were daft enough to jump on that bandwagon and buy at the top of the market.

95% of all the world's companies would love to have quarterly figures like those issued by Apple.

 

The results are based on the past and what has already gone. The share price is based on what investors think will happen in the future. Two very different things. hence the share price has fallen from $700 last September to $440 now. 

If only we'd bought when they were at $3 and Apple was nearly bankrupt!

Professorhat wrote:
 $13.1 billion profit in one quarter and the share price drops 10%. Mental.

It makes more sense if you put the word "Only" at the start of your sentence, then you understand how investors look at Apple...

It was a 13 week quater, last years Q4 was a 14 week quater, still Apple tops it.  Apple posts the highest corperate earnings for a year in the history of the world ever.  For Anyone.  But hey, some other guys are selling tones of product at low margin, that's got to be good too right? Wink

Apple share price of more than $700 at its peak was excessive in any case, & had to be corrected.

$13.1 billion profit in one quarter and the share price drops 10%. Mental.