Though Apple iPhone sales hit a record high recently, investors think it could have been better. Sales even hit higher than earlier estimates especially when Apple stock catapulted after releasing on Wednesday its earnings for the first quarter of Fiscal Year 2013.
Apple shares (Nasdaq: AAPL) plummeted some 5 percent during post-hours trading. However, when trading was closed in New York, Apple stock totaled $514.17, up by 1.86 percent. Observers were surprised at this trading outcome. Tim Cook, Apple CEO, remarked that no other company dealing in gadget technology has ever had this kind of result.
Sales Should’ve Been Higher
Reportedly, Apple sold a total of 47.8 million units in said quarter, almost 10 million units more than their 37 million units sold the first quarter one year ago. But no matter this performance, investors felt Apple should have pushed for selling 50 million units of iPhones instead. They were uncertain about hearsay on iPhone sales and parts until the company finally came out with its plausible earnings reports. It even turned out, Apple was coming out with a new iPhone in June. (more…)