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Apple reaching a turning point?

January 24, 2013

Apple might have reached a turning point as its growth outlook disappoints investors and shares lost up to 11% after market close. Smartphone sales increased to 47.8 m from 37 m and Apple sold 22.9 m tablets, (15.4 m). However, most analysts had expected even stronger figures. Q4 profit rose less than 1% to $13.1 bn or $13.81 a share and sales gained 18% to $54.5 bn, but falling short of market expectations of $54.9 bn, according to Bloomberg. The sales outlook for the current quarter of $41-43bn was below the $45.5 bn market consensus.