Apple’s profit margin down, shares take a hit

Apple’s profit margin down, shares take a hit

We already know that iOS devices had a record-breaking quarter according to Apple’s most recent earnings report, but that figure alone isn’t enough to impress Wall Street. Unfortunately, while the company dodged a year-over-year loss in overall profit, the company’s profit margin took a sizable hit, down 6.1 percentage points to 38.6% from a year earlier.

This, combined with worries that current iPhone sales have flattened off considerably, helped to contribute to an after-hours hit to Apple’s stock price. Currently, shares are down just over 10% (roughly 51 points) since trading closed.

Apple’s profit margin down, shares take a hit originally appeared on TUAW – The Unofficial Apple Weblog on Wed, 23 Jan 2013 21:00:00 EST. Please see our terms for use of feeds.

Source : blancer[dot]com