Apple Inc (AAPL) Releases Earnings Results, Misses Expectations By $-0.10 EPS

Apple Inc (AAPL) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $1.90 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $2.00. The company posted revenue of $50557.00 million in the period, compared to analysts expectations of $51984.35 million. The company’s revenue was down -12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS.

Many Wall Street Analysts have commented on Apple Inc. Needham Initiated Apple Inc on Apr 6, 2016 to “Strong Buy”, Price Target of the shares are set at $150.Company shares were Reiterated by Credit Suisse on Apr 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 150 from a previous price target of $140 .Company shares were Upgraded by Cowen on Mar 30, 2016 to ” Outperform”, Firm has raised the Price Target to $ 135 from a previous price target of $125 .

Apple Inc closed down -0.29 points or -0.27% at $105.68 with 3,36,83,121 shares getting traded on Friday. Post opening the session at $105.01, the shares hit an intraday low of $104.62 and an intraday high of $106.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 5, 2016, Philip W Schiller (Senior Vice President) sold 26,284 shares at $111.68 per share price. According to the SEC, on Apr 5, 2016, Jeffrey E Williams (COO) sold 26,284 shares at $111.43 per share price. On Mar 17, 2016, Luca Maestri (Senior Vice President, CFO) sold 18,241 shares at $103.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Apple Inc. (Apple) designs manufactures and markets mobile communication and media devices personal computers and portable digital music players and a variety of related software services peripherals networking solutions and third-party digital content and applications. The Company's products and services include iPhone iPad Mac iPod Apple TV a portfolio of consumer and professional software applications the iOS and OS X operating systems iCloud and a variety of accessory service and support offerings. The Company also delivers digital content and applications through the iTunes Store App StoreSM iBookstoreSM and Mac App Store. The Company distributes its products worldwide through its retail stores online stores and direct sales force as well as through third-party cellular network carriers wholesalers retailers and value-added resellers. In February 2012 the Company acquired app-search engine Chomp.

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