(AP:NEW YORK) Apple says its growth slowed in the most recent quarter, disappointing investors who thought its progress was unstoppable.
In both revenue and net income, Apple Inc. posted the smallest increases in years for the April to June period, failing to meet analyst expectations.
Net income in the fiscal fourth quarter was $8.8 billion, or $9.32 per share. That was up 21 percent from $7.3 billion, or $7.79 per share, a year ago.
Analysts polled by FactSet were expecting earnings of $10.37 per share.
Revenue was $35 billion, up 23 percent. Analysts were expecting $37.5 billion.
Apple sold 26 million iPhones in the quarter, at the low end of expectations. It sold 17 million iPads, beating forecasts.
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Even w/ the share slip, as a result of earnings, the Trade Triangles have been pretty darn profitable since the last monthly Trade Triangle. I back tested MarketClub’s Trade Triangle signals for AAPL. As an intermediate term trader, I used the method of using Green Monthly/Weekly Trade Triangles to enter into a long position and then the Red Weekly Trade Triangle to signal the exit of a trade. The Trade Triangles have done very well since the last Monthly on 7/7/11, and even despite the sharp drop today, the last trade was profitable. In approximately 1 year, there were 5 signals, 3 of which were profitable.
Here’s what I saw:
07/07/11 GREEN Monthly TT Long @ 355.13
08/08/11 RED Weekly TT Out @ 362.57
+7.44
08/29/11 GREEN Weekly TT Long @ 384.97
10/04/11 RED Weekly TT Out @ 371.90
-20.51
10/17/11 GREEN Weekly TT Long @ 422
11/10/11 RED Weekly TT Out @ 390.75
-31.25
12/05/11 GREEN Weekly TT Long @ 393.62
04/16/12 RED Weekly TT Out @ 595.26
+201.64
05/30/12 GREEN Weekly TT Long @ 576.50
07/25/12 RED Weekly TT Out @ 583.60
+7.10
Total = +164.42
+46.3%
Today's sharp move didn't leave MarketClub Members at a loss.
Big surprise to me. I thought Apple was going to grow for eternity.