Apple Inc. (NASDAQ:AAPL), which is not only the world’s most valuable company today by market capitalization but recently it has also managed to pass the Coca-Cola Company as the world’s most valuable brand. This was published in Interbrand’s yearly best global brands list recently.
Apple announced last week that the sales for the new iPhones set a new rocord of 9 million just in the opening weekend. The company also said that the fourth quarter revenue should be close to the high that the previous forecast had predicted at around $37 billion from #34 billion. The company also said that there are more than 200 million devices that have downloaded the latest iOS 7 software following its release in September.
The company’s third quarter earnings have beaten most expectations including those made by Wall Street, the company has seen a decline in demand in many places around the world including China. For the quarter at hand, Apple made $7.47 per share with earnings of $6.9 billion and revenue of 35.3 billion USD. This compared to a profit of $8.8 billion at $9.32 a share or revenue of nearly 35 billion US from one year ago.
While Apple Inc topped estimated sales and sold nearly 31.2 million iPhones in the period ending June. The revenue from China dipped 43% from the second quarter and 14% from the same quarter one year ago. The next-gen iPhone 5S and 5C were both unveiled in September and despite the fall in shares over the high priced iPhone 5C, investors also maintained the fear that the sales in key markets could go down because of the higher pricing.
The opening sales weekend sales figure however shocked many as it sold more than 9 million devices as compared to 5 million sold on the opening weekend a year ago. The company has launched the two latest models in 11 countries which also includes China.
