Apple Q1 Earnings Disappoint, Stocks Fall 8% After Hours

Apple’s earnings report for Q1 is out, and although revenue and net profit is up, iPhone sales were lower than expectations. The 51 million units sold was a 6.7 % increase from last year, but below the 54.7 million estimate from side-seller analysts and the whisper number (off the record estimate) of 56 – 57 million.

As a result, in spite of Apple’s upbeat numbers, analyst characterized the report as disappointing. Apple is still a giant money pit, but no longer the immovable behemoth in Jobs’ day.

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