Apple Inc. (NASDAQ:AAPL) shares gained by 5.14%


Dallas, Texas 07/25/2013 (Financialstrend) – The recently announced quarterly results of Apple Inc. (NASDAQ:AAPL) had sent strong signals to the investors by beating down the expectations of the analysts. However the results had been worse compared to the earnings reported for the same period of previous year. For this quarter, the company had generated revenues at $35.3 billion, which had resulted in net income of $6.9 billion or $7.47 earnings per basic and diluted share of the company. Such reported revenues had been lower compared to the revenues at $35.0 billion and net income at $8.8 billion or $9.32 earnings per basic and diluted share of the company reported for the same period of previous year.

Such decline in revenues and profit margins for the company had been primarily attributed to cheaper mix of products that had been sold out for this quarter. Further, the average sales price for the iPhones in the market had declined to $582 in this quarter compared to the price at $613 per unit in the previous quarter. However, it had been reported that such decline in revenues and earnings per share for the company in this quarter would not keep Apple from announcing higher level of dividends to its shareholders for this period. As the company fundamentals are strong to support an increase in dividends, it is expected that Apple would surprise investors in the near future with huge dividends.

Apple Inc. (NASDAQ:AAPL) had gained 5.14% on Wednesday to close at $440.51 per share, after opening the day at a price of $438.93 per share. The stock had through the day moved with prices fluctuating between $435.26 and $444.59 per share. The company presently has 52 week low at $385.10 and 52 week high at $705.07. The institutional holding is at 64% and there are 908.44 million shares outstanding in the market with a market cap of the stock presently at $400.18 billion.