Gloss comes off Apple

Oct 25, 2012, 6:18 PM EDT
Apple CEO Tim Cook speaks as the new iPad mini and fourth generation iPad are unveiled during an Apple event on October 23, 2012 in San Jose, California. Apple Inc delivered another quarter of lackluster results and iPad sales fell well short of Wall Street targets. The world's most valuable technology company, whose share price flirted after hours with sub-$600 levels for the first time since August, delivered results largely in line with expectations.
Getty Images/Kevork Djansezian

Apple reported lackluster quarterly results and iPad sales fell short of Wall Street targets. Fiscal fourth quarter revenue rose to $35.96 billion, in line with analysts' expectations of 35.8 billion, but the company's sales forecast for the critical holiday season, at $52 billion, was more than 5% below analysts' estimates. Profit, at $8.2 billion, worked out at $8.67 per share, against analyst's expectations of $8.75 per share. Apple's shares slipped, but then mostly recovered in New York after-hours trade.

TAGS: Apple