Apple's Record-Breaking iPhone Weekend

Apple (NASDAQ: AAPL  ) announced this morning that the company sold a record-breaking 9 million iPhone 5c and 5s units in the models' debut weekend. Analysts were only expecting around 5 million to 7 million phones sold. This is also the first time Apple has launched two phones at once.

Additionally, in an 8-K filed today, Apple now expects revenue and gross margin for the quarter to come in near the high end of guidance, at $37 billion and 37%, respectively. Investors are seeing a small amount of margin compression compared to the year-ago quarter, but that was anticipated.

Motley Fool analyst Jason Moser is impressed by this showing, though he notes that a company this size can't expect to keep posting record-breaking growth. Since hitting all-time highs last year, Apple shares have dropped by more than 30%. Jason thinks Apple's share buybacks and dividends have helped transform Apple from a growth stock to more of an income-investor pick.

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  • Report this Comment On September 23, 2013, at 1:20 PM, Ostrowsr wrote:

    An income stock until the transform their $150 Billion into "the next big" thing. Analysts have proven how wrong they can be with this latest call for only 5 million phones. Sometimes it seems like their job is to manipulate the stock price rather than analyze data.

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