Apple reported sales of $55 billion for its fourth-quarter, and a profit of $13 billion.
That’s THIRTEEN BILLION. $13,078,000,000, to be more precise. It’s the second-highest quarterly profit in U.S. history.
As Tim Cook pointed out on Apple’s conference call, the company sold 10 iOS devices per second last quarter.
So, you’d think Wall Street would be like this:
Here’s how investors actually reacted:
Apple shares are down 11% after-hours. Tomorrow’s opening trade will probably be gruesome.
Now, to be fair, investors have legit concerns that Apple’s growth is slowing. Apple’s margins are shrinking, and there’s no sign yet of a new, next magical “it will sell ZILLIONS” device on the horizon.
But still. I find it astonishing that profit of THIRTEEN BILLION can be considered a total disaster. -Stacy