Tuesday, July 22, 2008

Apple's third-quarter result

Apple announced its third-quarter result on Monday. Profit rose 31% from the year-ago quarter and revenue surged 38%. The surge in demand for Mac and iPod boosted profit for third-quarter, but future outlook end up disappointment investors. This is the second time in a row company’s stock took a hit after declaration of its result. Apple also had good result for the last quarter but stock took a hit due to lower then EPS guidance for future quarter. Yesterday stock fell almost 11% in after-hour trading. The analysts are worried whether the Mac momentum will continue and whether the new fast selling iPhone will be sufficient to counter a slow down. After google, apple end up disappointing wall street and me too. My portfolio once again took hit on tech sector company's quarterly result announcement :-(

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