Apple (AAPL) Now 10% Lower
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Apple (Nasdaq: AAPL) is now down 10% as its earnings conference call continues. Lower gross margins, iPhone shortages, lower average selling prices on iPod's and the health of Steve Jobs are the main investor concerns.
Apple reported Q3 EPS of $1.19, 11 cents better than the analyst estimate of $1.08. Revenues for the quarter were $7.46 billion, versus the consensus of $7.37 billion. Looking into Q4, Apple sees Q4 EPS of $1.00, versus the consensus of $1.24. Sees Q4 revenues of $7.8 billion, versus the consensus of $8.3 billion (NOTE: Apple is usually very conservative on guidance, but maybe this is too conservative).
Apple reported Q3 EPS of $1.19, 11 cents better than the analyst estimate of $1.08. Revenues for the quarter were $7.46 billion, versus the consensus of $7.37 billion. Looking into Q4, Apple sees Q4 EPS of $1.00, versus the consensus of $1.24. Sees Q4 revenues of $7.8 billion, versus the consensus of $8.3 billion (NOTE: Apple is usually very conservative on guidance, but maybe this is too conservative).
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