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iPhone sales brings market down while iPad sets sales record

Apple announced their Q3 2012 results yesterday and for the first time in ages they failed to outperform market expectations.

Apple share price development following Q3 2012 announcement (Yahoo Finance)

Despite selling 17 million iPads in the quarter the market has reacted by lowering the share price, and for once the culprit seems to be the iPhone. It is not like the iPhone had a bad quarter, selling 26 million units, an increase over same quarter previous year, but below what the market was expecting. It is though out there, even for Apple.

“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”

There is a good argument that Apple has been so successful in recent quartets that a reaction had to come as the market starts predicting their performance better. They still delivered revenue of $ 35 billion with profits of $8.8 billion so I doubt there are any alarm bells going off in Cupertino,yet.

It is expected that rumours around coming new iPhone upgrade will have had an impact on iPhone sales for the quarter.

[source: Apple]

[Ratings]

Filed in: Apple news

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