Apple's Profit Report Leaves Sour Taste
Excerpt:It’s a rare day on Wall Street when Apple (AAPL) fails to impress. Yes, the world’s most highly valued company did report a 24 percent jump in quarterly profit compared with the year before. But that was less than expected. Sales of iPhones were a bright spot for Apple–a 58 percent rise from the year before–and 14 million iPads were sold, less than analysts were forecasting. The company enters the holiday shopping season with a full slate of new gadgets, but they could bring down profits. Apple executives say the new products are expensive to make, and they don’t want to cut corners for the sake of short-term returns. Amazon shares (AMZN) also took a beating after the number one online retailer reported a loss of $274 million for the July-September quarter.
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Richard Davies
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Apple's Profit Report Leaves Sour Taste
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Morning Business Report: It’s a rare day on Wall Street when Apple (AAPL) fails to impress. Yes, the world’s most highly valued company did report a 24 percent jump in quarterly profit compared with the year before. But that was less than expected. Sales of...
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