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Apple Inc. (NASDAQ:AAPL)’s new iPhone product will be launched by second half of the fiscal year

Boston, MA 07/11/2013 (wallstreetpr) – In a recent survey on the global handsets, it was reported that iPhone 5 emerged as the best-selling smartphone in the global markets across all carriers. The report also noted that the iOS 7 recently launched at WWDC has emerged as the device with highly impressive features, and there are expectations that a new iPhone product will be launched by Apple Inc. (NASDAQ:AAPL) by the second half of fiscal year 2013.

For the quarter closing in September 2013, the report noted a decline in estimates of sales for iPhone to 28 million from 30 million, and the estimate was also decreased to 173 million from 181 million for the year 2014. Furthermore, Apple Inc.’s (NASDAQ:AAPL) estimates for earnings per share for the fiscal year 2013 were slashed to $39.29 per share from the earlier $40.12 per share, and for the fiscal year 2014, the estimates are revised to $44.04 per share from the earlier $46.80.

The report confided that, in the long term, the company will reaccelerate growth through its strong product pipeline, the new and refreshed iPhone 5S and the launch of the iPhone and iPad to target middle tier customers.

Apple, Inc.’s (NASDAQ:AAPL) share price declined by 0.38 percent on Wednesday, closing at $420.73 per share for the day. Intraday prices for the stock touched a low of $418.25 and a high of $424.80 per share. Trading volume was 10.04 million shares for the company on Wednesday while on an average, there are 12.50 million shares per day of trading.

Apple Inc. (NASDAQ:AAPL) currently has a 52-week low price  $385.10 and 52-week high price aof $705.07 per share. The market cap is $395.53 billion with 940.09 million shares outstanding and 62 percent institutional ownership.

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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