Earnings fall despite rising iPhone sales of Apple

October 29, 2013 Sanjeev Ramachandran Technology 0

The fourth-quarter fiscal results of Apple Inc. were announced on Oct 28, 2013. Apple’s quarterly earnings are still lagging even though iPhone sales are rising.

apples sales soar
Earnings fall despite rising iPhone sales of Apple

The market value of Apple has already plunged down by nearly 25 per cent or about $160 billion this year. Still Apple remains the world’s most valuable company.

It is not only the earnings of Apple Inc. that have been shrinking, but also the market share of the smartphone and tablet. Apple reshaped phone market in 2007 with the release of the first iPhone and in 2010 with the introduction of the iPad.

There hasn’t been another breakthrough product since then from the company raising doubts on its ability to innovate after the death of its chief visionary Steve Jobs two years ago.

See Also:  iPhone 14 Pro Max teardown shows phone’s internal components

Apple’s revenue is predicted to be in the range of $55 billion to $58 billion by management in coming quarter. The profit margins are also expected to be in the same range as the past quarter. Apple Inc.’s stock has dipped by $2.16 cents to $527.72 after the numbers came out.

The latest quarter results included early sales of the iPhones 5S and 5C which were released last month. The company sold around 33.8 million iPhones in the last quarter, which is 26 % increase from the same time last year.

The prices of iPhones on an average were $577, which is a 7 % decrease from the average price of $618 last year. Apple’s iPad sales were 14.1 million devices, compared to 14 million last year. The average price of an iPad slipped to $439, which is 14% less compared to last year.

See Also:  Galaxy Z Fold 4 vs iPhone 14 Pro here's where Samsung already wins

Related Stories:

Apple iPhone 14, iPhone 14 Pro: Latest Leak Reveals Dazzling UpgradeApple iPhone 14 launch date leaked, may arrive earlier than expected S&P 500 and FTSE 100: A Comparative Analysis of Global Stock Market IndicesApple stock: the bigger they are, the harder they fall https://www.panasiabiz.com/37175/california-to-tax-president-bidens-student-loan-forgiveness/Steve Jobs’ daughter Eve mocks Apple’s iPhone 14 with a meme, hints it’s a copy of the previous model Easy & Fast Way: Backup Any/All iPhone Contacts to PCiPhone 14 Orders Begin to Arrive: Apple Confirms iOS 16 Bug Impacting New Device Activation iPhone 16 vs iPhone 15: 7 Biggest Changes to Expect in the Next Apple UpgradeiPhone 16 vs iPhone 15: 7 Biggest Changes to Expect in the Next Apple Upgrade The Latest iPhone Update from Apple New Features, All in One PlaceThe Latest iPhone Update from Apple: New Features, All in One Place Video: Apple Introduces iPhone 14 Pro Crash DetectionVideo: Apple Introduces iPhone 14 Pro Crash Detection Apple’s iPhone 14 event in under 20 minutesApple’s iPhone 14 event in under 20 minutes
About Sanjeev Ramachandran 145 Articles
Sanjeev Ramachandran has found ultimate joy all through his 23-year-long journalism career by writing for national and international newspapers, websites and blogs. From technology to politics to sports to entertainment, he has been able to express ideas and pen opinion pieces on whatever triggers his interest. Currently at the helm of his own content and public relations company, called Siyahi – The Content & PR People, he makes sure that he doesn’t always let administrative tasks take over his writing space.