Shares of Apple continued to slide today, edging toward levels the stock hasn't touched since last January.
After opening down more than 10 percent this morning at $460.46 a share, the stock closed at $450.46, down $63.55, or 12.36 percent. It's the largest single-day percentage drop since 2008 for the company's shares, and follows yesterday's earnings report that missed Wall Street's expectations.
Here are some of the highlights by the numbers:
Revenue: $21.5 billion Net income: $6.38 billion Windows: $5.88 billion, up 24 percent year-over year. (That number includes revenue deferrals tied to an earlier upgrade offer as well as presales. On … Read more
AT&T posted a narrower fourth-quarter loss, which was again weighed down by a change in the valuation of its employee pension plan.
Reporting results today, the company, however, added 780,000 contract subscribers in the period, and sold a record 10.2 million smartphones, of which 8.6 million were iPhones.
AT&T posted a loss of $3.9 billion, or 68 cents a share, compared with a loss of $6.7 billion, or $1.12 a share, in the same period a year ago. Excluding the pension issues, an adjustment for the sale of its advertising … Read more
Nokia's got a pulse again, but it will take a lot more juice to fully jolt the company back to life.
The Finnish mobile device maker today reported its fourth-quarter results, and the signs are encouraging. After several quarters of losses, the company returned to profitability. Its Lumia smartphone brand, which features the Windows Phone operating system, appears to be taking hold, with the company selling 4.4 million units worldwide in the period.
Stlil, Nokia has a lot of more work to do. While it made steady progress in North America, this remains a relatively small market for … Read more
It appears that Wall Street is still suffering from an Apple hangover.
Apple yesterday posted its fiscal first-quarter results and got hammered for it. Now it's the morning after, and investors are continuing to run for the hills. Shares are down more than 10 percent to $460.76, wiping nearly $50 billion off of its market value.
The results themselves weren't bad. In fact, they were quite good: record sales of iPhones and iPads, nearly $55 billion in revenue and $13.4 billion in profit.
But investors aren't looking at how Apple did, and instead are more … Read more
Nokia might be down, but it's certainly not out.
The company today reported its fourth-quarter earnings, and offered up performance that might make its doomsayers think twice. During the fourth quarter, Nokia was able to generate a profit of 202 million euros ($269 million), a massive gain over the 1 billion euros the company lost during the same period in 2011. Still, Nokia's profit came amid slumping revenue that fell from 10 billion euros in the fourth quarter of 2011 to 8 billion last quarter.
On a full-year basis, Nokia could only muster 30.2 billion euros in … Read more
After a week of silence, Apple has weighed in on reports that it cut orders on components for production of future iPhone. As in, it's not happy about them, but it's not about to confirm or deny them.
According to chief executive Tim Cook, the company's supply chain is "complicated," and so people shouldn't look too deeply into any one aspect of it to see the bigger picture.
"Even if a particular data point were factual, it would be impossible to interpret the data point for what it means to our overall business,&… Read more
Shares, which have already been under pressure in recent weeks, slid about 10 percent in late trading after the Cupertino, Calif., electronics giants failed to post quarterly results that were as strong as hoped. Shares initially slid about 5 percent after the report, but losses accelerated during Apple's conference call.
Revenue for the first-quarter ended in January was weaker than analysts expected, as were the company's projections for second-quarter sales. And iPhone sales, while a record, also weren't quite … Read more