Apple shares fall as Q4 profits miss analysts' expectations

Apple, the world's largest company, revealed profits in the fourth quarter missed analysts' estimates, prompting a share price drop of 1.5% in after-hours trading.

The maker of the phenonmenally successful iPhone and iPad said sales of the latter were lower than expected as buyers put off purchases in the summer in anticipation of the release of the mini iPad this month. Profits were up $8.2bn, compared to $6.6bn last year while revenues of $36bn narrowly misses estimates of $36.6bn, according tyo ther BBC. Apple's finance director Peter Oppenheimer said: ""We were happy with the 14 million iPad sales in the quarter. It exceeded our expectations. But as the summer went on, the rumours were pretty rampant about the iPhone and iPad." The Q3 res...