SAN FRANCISCO, Oct 28 (Reuters) – Apple Inc’s
quarterly revenue barely beat Wall Street’s heightened
expectations after it sold a solid 33.8 million iPhones in the
September quarter, prompting investors to take some money off
the table.
The company reported fiscal fourth-quarter revenue of $37.5
billion, ahead of Wall Street’s average forecast of $36.8
billion, according to Thomson Reuters I/B/E/S.
Commentary:
BRIAN COLELLO, ANALYST, MORNINGSTAR
“All eyes are on guidance.
“With Apple focusing on premium products, maintaining their
pricing, ignoring calls for a low-cost iPhone in China, I think
we would have expected higher gross margins.
“With the higher-price phones and clear preference toward
the 5S, we were all expecting more of a gross margin boost for
the December quarter.”
(Reporting by Noel Randewich and Gerry Shih)
