Apple touts earnings, but investors don't care
The market had a muted reaction to the latest numbers from the company.
The headline numbers were solid overall. Apple reported $37.5 billion in revenue, with a profit of $8.26 per share. Both numbers beat analysts' estimates. Apple's iPhone sales jumped 24% over the year-ago quarter, coming in at 33.8 million, a new record for the September quarter. Given that the new iPhone 5s and 5c were only available for nine days of the quarter, and that the 5s was in limited supply, that 24% jump is especially impressive. However, iPad sales were nearly flat compared to last year.
Motley Fool analyst David Hanson explains the quarter for investors, and notes iPads didn't post much growth likely because consumers largely anticipated the new models announced Oct. 22: the iPad Air and the iPad Mini with Retina display. Those are expected to give a significant boost to iPad sales for Apple's holiday quarter.
The Motley Fool's 12 top stocks for 2013 are now available! So if you're tired of picking stocks out of a hat and hoping that one skyrockets, check out Stocks 2013: The Investor's Guide to the Year Ahead.
It's The Motley Fool's current top report, and includes Chief Investment Officer Andy Cross's top stock for 2013! This under-the-radar company is the secret winner in the war for the last precious drops of oil on the planet. Find out what it is and how you can take advantage of this unseen company's huge profits in this special, free report, just click here now.
More from Top Stocks
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.