Any way you look at it, Apple’s Q4 results make for impressive reading, but it’s still not good enough for ye olde stock market.
It was just a few months ago that Apple’s shares hit a record high of $702.10 ahead of the iPhone 5 launch, but that was followed by a record drop, and this week - following the Q4 results - they fell more than 11% to $450.66.
What happened? Well, get this; Apple sold just (ahem) 47.8 million iPhones in the quarter encompassing Christmas (or “Q4” to you and me), alongside 22.9 million iPads.
That’s 77% more iPhones than in Q3 (26.9 million), and 63.5% more iPads (14 million). Poor effort, guys.
Seriously though, part of the problem is that many had forecasted iPhone sales of over 50 million for the “holiday quarter”, hence the market-based disappointment.
Man, what a crazy world we live in when 47.8 million sales (roughly half a million per day) of one of the most expensive phones on the market can be considered disappointing.
Of course, it’s not all about the iPhone and iPad, and indeed gross margin for all Apple products was down to 38.6% from 44.7% one year ago.