Showing posts with label Apple stock. Show all posts
Showing posts with label Apple stock. Show all posts

Apple market share in china

Indonesia stock info - Apple market share in china ; As the U.S. smartphone market matures and Apple pushes more deeply into the Chinese market looking for growth, its shareholders have learned that not every iPhone customer is worth the same to the company's bottom line.

When Apple's sales growth was being powered by iPhone and iPad buyers in North America, Europe and other developed markets, life for Apple shareholders was a never-ending party.

That's because rabid iPhone fans willing to wait in line for hours in New York, Tokyo or San Francisco to get the latest version of the device were also willing to pay whatever it took to get its newest, snazziest features.

Apple's ability to satisfy those early adopters, as well as the millions of other iPhone and iPad buyers in developed markets who bought in their wake, drove the company's stock price to $700, making it the world's most valuable company and making many investors rich.

But after several flush years during which Apple was able to charge a hefty premium over rival devices for iPhones, the mainstream smartphone market has begun changing.

The day before Apple's report last week, Verizon Communications, which was the second U.S. wireless operator after AT&T to carry the iPhone, said less than half of its fourth-quarter activations of the device were for the latest model, the iPhone 5.

What's more, Verizon said it started selling some iPhones for free for the first time, something AT&T has already begun doing on older models. That's a different scenario from rollouts of the first- and second-generation iPhones, when pricing for AT&T iPhones held firmer, longer.

That suggests a majority of U.S. consumers who don't already own an iPhone aren't the types who'll pay more for the latest feature set. Instead, they're shopping based on price and waiting for a discount promotion before buying one.

The exact revenue split between Apple and Verizon for each iPhone model is a well-kept secret, but it's a good bet that Apple gets less for a free iPhone 4 than it does for an iPhone 5, which costs $200.

Whatever the exact difference, the trend is affecting Apple's sales growth and profitability.

For its fiscal year ended last September, iPhone sales rose a whopping 71%, helping Apple generate total revenue growth of 45%.

For the quarter ended in December, however, iPhone sales rose a much-slower 28%, even though Apple rolled out the iPhone 5 during the period.

Because the iPhone generates just over half of Apple's total revenue, overall sales rose only 18%. That figure, along with a steep decline in a key profit metric, is what sent Apple shares tumbling last week. The stock drop worsened the hangover that Apple shareholders had been suffering since September, when the party ended and the stock began its now-35% slide (as of Friday).

The China card

To boost revenue growth, Apple has begun to invest heavily in China, opening retail stores and signing contracts with wireless carriers in the world's most populous country.

Apple's fourth-quarter sales in the world's most populous country surged 67% -- compared with 15% growth in the Americas and 11% in Europe -- and now account for 13% of Apple's revenue. In fiscal 2012, the company didn't even break out its sales in China from the rest of Asian sales, which grew just 10% in the most recent quarter.

But Apple's very success in China has proved to be a double-edged sword, one that combined with a maturing U.S. market to take a hefty slice out of the company's profitability.

Apple's gross margin, which is revenue minus product costs, dropped to roughly 39% of revenue in the fourth quarter, down from roughly 45% a year earlier. Even worse, Apple forecast a range around 38% for the current period ending in March.

While all this has been going on, rival makers of smartphones that run Google's Android operating system have been gaining global market share against the iPhone. In the third quarter, according to market researcher Gartner, Android phones held 72% market share, up from 53% a year earlier. Over the same time, Apple's share edged down to 14% from 15%.

Last year, South Korean giant Samsung became the largest seller of smartphones in the world, and in October it unveiled a model that had a 5-inch screen -- significantly bigger than the competing iPhone model at the time.

All of this is not to say that Apple is finished or that its stock will keep plummeting. Its strong cash position allowed it to announce another hefty quarterly dividend, which makes the stock more appealing to investors who want income. And the stock's low price-to-earnings growth ratio is still a hit with value investors.

But a company whose sales are decelerating and whose margins are falling is not nearly as attractive to growth investors as was the Apple of 2011 or early 2012.

And a company whose stock loses its base of investors will have a hard time remaining the most highly valued in the world. It happened Friday, when Exxon overtook Apple to reclaim the No. 1 spot.

Apple stock prices jump 25 2012

Indonesia stock info - Apple stock prices jump 25 2012 ; Apple’s stock shot up more than $50 a share Wednesday after its quarterly profit blew away Wall Street expectations. The surge propelled the Nasdaq composite index to what would easily be its biggest gain of the year.

Apple climbed more than 10 percent in early trading, enough to make back most of what it lost during a two-week slump before the earnings announcement late Tuesday.

The company turned a profit of $11.6 billion from January through March, or $12.30 per share. That is almost double what it made in the same quarter a year earlier and far above the $10.07 that Wall Street was expecting.

Apple sold 35 million iPhones during the first quarter. One possible reason for the two-week slump was an analyst’s suggestion that Apple could not keep up the momentum in its iPhone sales.

Stock in Apple, the most valuable public company in the world, hit $644 in intraday trading on April 10. It slid as low as $579 a share a week later. On Wednesday, it was up $54 to $614.53.

The gain in Apple stock helped power the Nasdaq to a gain of 67 points, to 3,029, just after 10 a.m. EDT. Apple makes up 12 percent of the Nasdaq, by far the biggest component.

The Dow Jones industrial average, which does not include Apple, was up 84 points at 13,085. The broader Standard & Poor’s 500 index, which does include Apple, was up 16 points to 1,387.

European markets also rose. Benchmark stock indexes were up 2.5 percent in Madrid and Paris, 2 percent in Frankfurt and 0.4 percent in London.

Apple may not be an economic bellwether, but it is ‘‘an important confidence indicator for the market as a whole, so these figures will help sentiment today,’’ said Gary Jenkins, managing director at Swordfish Research in London.

In the United States, Apple helped technology stocks in the S&P to a 3 percent gain as a group, easily the best-performing industry in the market. Materials stocks and consumer discretionary companies were also having a strong day.

The dollar and U.S. Treasury prices fell as investors moved money out of safe assets.

Among other stocks making moves:

— Boeing rose 4.3 percent, the best performer among the 30 stocks that make up the Dow. Its first-quarter profit soared 58 percent. Airlines around the world are updating their fleets with more fuel-efficient planes.

— US Airways climbed 1.9 percent. It raised fares to offset higher fuel prices and beat expectations for earnings. US Airways has won the support of unions at American Airlines, which is in bankruptcy protection, for a merger.

AT&T Ahead of Apple Earnings released april 24 2012

Indonesia stock info - AT&T Ahead of Apple Earnings april 24 2012; Everything changes after a $90 selloff. Apple(AAPL) hit $556 on Monday morning and all of a sudden it looks like the 50/50 odds of iPhone weakness is already priced in. Two weeks ago, we figured the stock would rise $100 if Apple beat iPhone estimates and it would drop $100 if it missed.

Investors, including us, have given the majority of their attention to the negative 50% odds, but what about the positive 50%? We know that Verizon iPhone sales declined by 1 million units from the holiday quarter and we will find out what happened at AT&T(T) when it releases results on Tuesday morning. Verizon and AT&T are both important pieces to the puzzle but 63% of iPhone activations occurred outside of the U.S. last quarter.

The March quarter is the monster quarter for international iPhone sales because it includes the Jan. 13 launch of the iPhone 4S in China and the March 9 launch of the iPhone with China's newest carrier, China Telecom. China has become Apple's second most important market in terms of revenue and this is the launch quarter for them. Can Chinese iPhone sales compensate for the 1 million Verizon drop and maybe another 1 million drop from AT&T? Easily.

The Street is now expecting sales of 31 to 32 million iPhones in the quarter. What do we expect? If you take the 24% Verizon sequential decline across the board from the holiday 37.04 million iPhone number it gives you 28.15 million units. However, there are two important numbers to factor in. iPhone sales grew 117% sequentially because of the iPhone 4S launch. With 20% of revenue coming from China, it's rational to assume that a 117% rise in Chinese demand could result in an extra 7 million iPhone's sold (especially considering there were 21 additional launch countries on January 13th) which gets Apple to 35 million units in the quarter.

The other scenario to consider is that Verizon may prove to be a terrible barometer for iPhone sales. We'll find out more on Tuesday morning after the AT&T report, but let's assume AT&T sales come in sequentially flat or down approximately 10%. It could happen. A year ago iPhone sales actually increased by 15% from the holiday quarter to the first quarter (this same scenario is unlikely, however, because iPhone 4S launched in the holiday 2011Q). Let's assume a 10% reduction across the board instead of a 24% reduction. That puts us at 33.3 million iPhones before adding in the Chinese demand. Add in China and the iPhone number hits 40 million.

apple stock outlook april 24 2012

Indonesia stock info - apple stock outlook april 24 2012, apple stock 24/4/2012, apple shares 24/4/2012 ; Apple (AAPL) investors continue to sell shares ahead of the company's fiscal second-quarter earnings report set for release after the market close Tuesday.

In midday trading Monday, Apple shares fell through a key support level, cutting below its 50-day moving average price line. Apple stock was down more than 1%, near 565. Shares had been down as much as 2.9% earlier in the day.

Apple stock fell eight out of the previous nine trading days. The stock hit an all-time high of 644 on April 10.

As Apple announces its 2012 second fiscal quarter earnings on Tuesday, some analysts think the stock price could hit $1,000 and the company reach $1 trillion in market capitalization. I have no idea where Apple's price is going or what's in its secretive product pipeline, but I suspect that even with strong recent earnings, it will eventually fall from the tree it's on now.

Apple Inc. (NASDAQ:AAPL) shares are rebounding slightly and was recently up 0.42% at $575.39, well above its intra-day low of $556.62. The stock has been under selling pressure ever since it made an all-time high of $644 on April 10, 2012. The stock lost almost $88 or 13.50% after today’s intraday low.

The recent fall was largely followed a hefty gain throughout this year as the stock had jumped over about 60% for this year before the correction started. Moreover, the recent fall could better be describe as pre-earnings sell off as the company is slated to report its earnings on tomorrow after the closing bell.

There are strong expectations from the iPhone maker, with analysts are estimating the company to report a profit of $9.89 a share, up from its year ago profit of $6.40 a share. Revenue is estimated to grow by 47% to $36.27 billion, from $24.67 billion a year ago. The company guided $8.50 EPS on $32.50 in revenue.

Last week, analyst at Canaccord Genuity slashed his FQ3 and FQ4 estimate for iPhone with fiscal Q3 sales of iPhone at 29.34 million units and 26.11 million units in Q4, well below its previous forecast of 33.58 million and 33.58 million respectively.

Analysts polled by Thomson Reuters expect Apple to earn $10.02 a share, up 57% from the year-earlier quarter, on sales of $36.69 billion, up 49%, for the March quarter. For the current quarter, analysts are forecasting Apple to earn $9.91 a share, up 27%, on sales of $37.34 billion, up 31%.

However, despite the recent correction, the stock is still up over 41.50% so far this year and the recent rally made Apple Inc., the world’s largest company by market value.

Mid March, the company introduced a much awaited third and the upgraded version of the iPad. Following the announcement of this new launch, several analysts raised their price target on the stock with a couple of brokerage firms setting the price target of over $700, reflecting a potential gain of at least 17% from the current price.

Also, the company announced a quarterly dividend of $2.65/share to begin in FQ4 of this year (July 2012) as well as a buyback program of up to $10 billion.

It would be interesting to see if the company’s earnings would impress its investors once again and the stock would be able to rebound after the recent correction.

Apple shares prices $1,000 projected 2012-2013

Indonesia stock info - Apple shares prices $1,000 projected 2012-2013, Piper Jaffray forecast apple stock prices 2013 ; Apple shares set a record high on Tuesday after Piper Jaffray, another securities firm, supported Topeka Capital Market's assertion that the stock should breach $1,000 in a year or two, propelled by emerging markets growth and new products that could include a revolutionary TV set.

Piper Jaffray senior research analyst Gene Munster, a longstanding bull on the world's most valuable company, joined Topeka analyst Brian White in predicting a run to $1,000 - but by 2014, versus White's timeframe of around 2013. That would make Apple the world's first trillion-dollar company.

On Monday, White ignited debate on online forums by publishing a report predicting Apple's shares are set to rocket to $1,001 within the next 12 months as it branches into new markets and expands its footprint in China.

Raising Apple's stock price targets has become something of a game on Wall Street as the value has doubled in 2011 alone, driven by a track record of shattering earnings and revenue expectations and sales estimates on the iPad and iPhone.

The company's newest tablet sold 3 million units in its first weekend in March.

"Shares can reach $1,000 based on our belief Apple will continue to win in global mobile devices," Munster, who is maintaining a shorter-term, formal target of $910, said in his Tuesday report.

Apple has in past years persistently defied Wall Street's most bullish expectations, armed with an array of products that have shaken up the music, media and technology industries.

Apple shares set an intraday peak of $632.21, before closing up 1.7 percent at $629.32 on Nasdaq.

"Driven by an ever expanding portfolio of innovative products, a growing integrated digital grid, unmatched aesthetics and a brand that is able to touch the soul of consumers of all backgrounds, Apple fever is spreading like a wildfire around the world and we see no end in sight to this trend," White wrote in an April 2 note initiating coverage of Apple.

White, formerly of Ticonderoga Securities, noted that the latest version of Apple TV - a box used to stream online video - with a refined user interface, could be a prelude to "a full blown TV" over the next year from the company. The new product is expected to revolutionize the way content is distributed into living rooms, similar to the way Apple's iTunes has changed music delivery, analysts said.

Many observers had once cast doubts that Apple's stock could even hit $500 and $600. Today, its median price target stands at slightly below $700, according to Thomson Reuters data.

Apple Inc. (AAPL) stock outlook october 31 2011

Indonesia stock info - Apple Inc. (AAPL) stock outlook october 31 2011 ; Apple Inc. (AAPL) stock closed just below $405 on Friday. Apple Inc. (AAPL) will break down technically if the stock closes back below $390. Apple Inc. (AAPL) will then probably see a bounce if it falls to $370-$375. On the upside, if AAPL can hold $400 a little while, that will silence a lot of critics. Apple Inc. (AAPL) will have resistance up at $410.

impact apple stock prices on Steve Jobs death

Indonesia stock info - impact apple stock prices on Steve Jobs death ; Local stocks in Apple Inc.'s supply chain, or the so-called "Apple concept stocks", were mixed on the Taiwan Stock Exchange in Thursday morning trade after the news of the death of Apple's co-founder Steve Jobs surfaced, dealers said.

They said there have been fears that Apple will be losing its innovative capability without Jobs and take a detour by entering price competition to attract buying, a change in strategy which may create an impact on contract component makers' bottom lines.

As of 11: 30 a.m., cell touch panel maker TPK lost 1.99 percentto NT$543.00 (US$17.7), battery producer Simplo Technology shed 2.49 percent to NT$176.00, and phone camera lens supplier Largan has fallen 3.23 percent to NT$631.00.

However, Hon Hai Precision, the flagship company of the world's largest contract electronics maker Hon Hai Group, gained 2.96 percent to NT$69.60. The group churns out iPhones and iPads for Apple.

Hon Hai's affiliate Foxconn Technology Co. rose 1.23 percent to NT$98.00.

"The launch of iPhone 4S has prompted many investors to worry that innovation at Apple is fading as its new gadget has dashed market expectations of a radically redesigned iPhone 5," Horizon Securities analyst Benson Huang said.

Rather than maintaining its innovative capability to win market share, Huang said, the market has been surprised by Apple's announcement that it will cut the prices of iPhone 4 and iPhone 3GS dramatically after the iPhone 4S debut.

"Now, the death of Steve has further raised such a concern as many investors have feared that Apple will come up with further price cutting measures," Huang said.

Huang said component makers, such as Largan, TPK and Simplo, which have been dependent on Apple as a major revenue source, may face requirements from the U.S. consumer electronics giant to lower contract service prices.

"I think these component suppliers will have to accept the change. Otherwise, they will lose orders from Apple since they are not irreplaceable," Huang said.

"Such uncertainty is expected to continue to haunt the local component makers in the short term," he said.

However, Hon Hai shares left behind the negative leads of Jobs' death as Hon Hai Group operates a sprawling production base wordwide which is too big for Apple to find a replacement, Huang said.

"It is hard for Apple to switch its orders to other partners like Hon Hai to roll out a large number of iPhone and iPad to meet global demand," Huang said. "That's why Hon Hai and its affiliates are outperforming other Apple concept stocks this morning."

Apple Court Order Puts New Samsung Galaxy Tab on Hold

Indonesia stock info - Apple Court Order Puts New Samsung Galaxy Tab on Hold ; Samsung Electronics Co. lost a chance to showcase its latest tablet computer at one of the world’s largest electronics shows after Apple Inc. (AAPL) won a second injunction blocking Galaxy Tab sales in Germany.

Samsung, Apple’s closest rival in tablet computers, pulled the just-unveiled Galaxy Tab 7.7 out of the IFA consumer- electronics show in Berlin after a Dusseldorf court on Sept. 2 granted Apple’s request to ban sales and marketing of the product, James Chung, a Seoul-based spokesman for Samsung, said by telephone yesterday. Chung couldn’t confirm if Samsung has received the court order, while Steve Park, a Seoul-based spokesman for Apple, couldn’t immediately comment on the ruling. read more.

aapl stock price for 8/15/2011

Indonesia stock info - aapl stock price for 8/15/2011 ; Apple Inc. (AAPL) stock failed at $380 on Friday. AAPL will have support located between $360-$365. Apple Inc. (AAPL) recently reported blowout earnings in which the company earned over 7.3 billion dollars for the quarter. I own AAPL and will be holding it until at least January 2012. AAPL will have resistance at $380 which the stock had a hard time breaking last week. If we see a drop below $350, AAPL is a strong buy!

Apple, Exxon Mobil stock prices august 10 2011

Indonesia stock info - Apple, Exxon Mobil stock prices august 10 2011 ; After days of back-and-forth with Exxon Mobil Corp., Apple AAPL +0.41% on Wednesday ended the trading day with a market capitalization greater than that of the oil-services giant. By the time the market closed, Apple’s shares had fallen $10.32, or 2.8%, to $363.69, giving the company a market cap of $337.2 billion.

Exxon’s XOM +0.46% shares retreated by $3.14, or 4.4%, to close at $68.03, leaving it with a market cap of $330.8 billion, according to data from FactSet Research.

pple had briefly overtaken Exxon during Tuesday’s trading session, but Exxon’s shares rallied late to help the company remain the world’s most valuable company for one more day. However, with Wednesday’s big selloff, Exxon fell behind Apple early and never regained its footing.

William Koehler, chief investment officer of ETF Portfolio Partners, in Leawood, Kansas, called Apple’s overtaking of Exxon “really fascinating, particularly if one looks at where Apple was, say, 10 years ago.”

At that time, Apple was ranked No. 287 on the S&P 500 Index SPX -4.42% and was still about two months away from unveiling the first iPod, the digital music device that many credit with saving Apple and setting it on the path toward the iPhone, the iPad and its current dominant market position.

Despite Apple’s shares costing as much as $400 recently, Koehler said the stock remains popular because “on a price-to-earnings ratio, it really doesn’t look overly expensive.”

Apple currently trades at about 11.5 times its next projected earnings for the next 12 months. Over its previous 12 months, Apple earned $23.6 billion on revenue over more than $100 billion. Exxon has a P/E ratio of almost 8 over the next year, and during the past year, earned almost $38 billion on nearly $393 billion in sales.

Apple Inc. (AAPL) Stock prices outlook august 8 2011

Indonesia stock info Apple Inc. (AAPL) Stock prices outlook august 8 2011 ; The following is technical analysis on Apple Inc (AAPL) stock for August 08, 2011
Apple Inc AAPL Resistance, pivot & Support Levels – 08/08/2011

Resistance levels: $404.82, $394.16, $383.89

Pivot point: $373.23

Support levels:$362.96, $352.30, $342.03

Share of Apple Inc. (AAPL)
is closed near $373 on Friday.Stock test on 50 ema on Friday.Apple will now have resistance up at $400.Short term support level at $362 which is recent low.I think stock is near $350 area again.Apple will now have resistance up at $400.I think stock is near $350 area again.

Apple shares prices prediction 2011

Indonesia stock info - Apple shares prices prediction 2011 ; Apple shares hit a milestone on Tuesday, closing at $403.61. It’s the first time the company’s stock has ever closed above $400.

The stock price of the iPhone and iPad maker hit $400 a few times Monday, but closed at $398.50. Today shares opened at $400 and peaked earlier this morning at $404.48.

There’s no mystery where the boost is coming from. Apple’s stock value has been swinging steadily upward since the introduction of the original iPad in late January 2010. Since then, Apple shares have grown 96 percent. Most recently, Apple reported blow-out third-quarter 2011 earnings last week, on the back of sales of more than 20 million iPhones and 9 million iPads in just three months.

Apple’s market capitalization is the number that Wall Street has been eyeing perhaps even more closely. As of Tuesday, Apple is worth $374.18 billion, making it the second-most valuable company in the world after ExxonMobil. While Apple is close, Exxon still has a pretty sizable lead, closing today with a valuation of $415.52.

But there’s at least one good reason to believe Apple’s value for shareholders isn’t going to lose steam anytime soon: Still expected sometime later this year is the next iteration of the iPhone.

How high will Apple shares climb, analyst prediction

Indonesia stock info - How high will Apple shares climb ; Apple sees its stock price close above $400 for the first time, a nearly 60% gain since a year ago. But many analysts believe the stock's peak is still nowhere in sight.

Lifting its investors' fortunes further, Apple's stock rose $4.91, or 1.2%, to $403.41 on Tuesday, closing above $400 for the first time and marking a nearly 60% gain since a year ago. It put the company's $374-billion market value a close second behind Exxon Mobil Corp., the world's most valuable firm at $418 billion.

A decade ago, just before Apple's hit streak started with the October 2001 release of the first iPod music player, the company's stock was $10 a share. The stock's 4,000% increase since then far surpasses nearly every major technology company's 10-year performance, including Netflix Inc. (3,000%), Amazon.com Inc. (1,100%) and Google Inc. (474%).

But even as Apple breaks profit records and its stock price continues to hit all-time highs, many Wall Street analysts believe that its peak is still nowhere in sight. Nearly half of the 56 Apple analysts tracked by Bloomberg's financial database say they believe Apple's stock will reach at least $500 in the next 12 months, including several who say it will soar into the $600s.

Despite intense competition from smartphone and tablet makers, Apple last week said it sold more than 20 million iPhones and 9 million iPads in the three months ended in June, both quarterly records. The sales surge led the Cupertino, Calif., company to post a $7.3-billion profit, more than doubling its earnings from a year earlier.

Brian White, an analyst with Ticonderoga Securities, leads all analysts with a price target of $666 — a number he chose because of its lucky associations in China, not its unlucky ones in the West.

Apple said close to 15% of its quarterly earnings now come from China and surrounding countries. Like many analysts, White believes that China and its nearly 900 million mobile phone subscribers are key to Apple's future growth, along with the continued popularity of its iPhone, iPad tablet computer and Mac laptop line and the possibility that Apple will release its own Web-connected "smart" television set.

"If all those things come to fruition, people will look back and say the $666 price target was pretty conservative," White said. "I think Apple will be much bigger than people can imagine."

Investors point out that Apple's price-to-earnings ratio — a common metric used to evaluate whether its stock is overvalued or undervalued — is lower than many successful companies in other, more mature industries. Using that measurement, stocks of long-established firms like PepsiCo, Kraft Foods Inc. and Proctor & Gamble Co. are all more expensive than Apple, a fact that investors believe means the company should be worth even more.

Still, despite Apple's history of hit products and recent string of financial milestones, few investors believe that its stock is a risk-free investment.

Among the first concerns cited by investors is the health of Steve Jobs, Apple's co-founder and chief executive. Jobs, who has been on an indefinite medical leave for nearly seven months, has long battled health issues. These include pancreatic cancer, for which he first had surgery in 2004, and later a liver transplant in 2008.

Jobs has made only rare appearances since January. For now, Apple is being run by Chief Operating Officer Tim Cook, who has a reputation for efficiency and deft oversight of the company's many moving parts.

"We believe [Cook] is at the center of Apple's CEO succession plan and the most likely candidate," said Gene Munster, an analyst with Piper Jaffray & Co., in a June note to investors.

Still, Cook is not generally considered a technology visionary of the same caliber as Jobs, who co-founded Apple 35 years ago at age 21 to market the first successful personal computer.

Apple Inc. earning report q3 2011, iPhone sales top 20 million

Indonesia stock info - Apple Inc. earning report q3 2011, iPhone sales top 20 million : iPhone sales top 20 million; lower guidance hints new smartphone is in the works.

Apple Inc.'s fiscal third-quarter earnings more-than-doubled as the company on Tuesday reported surging sales of its iPhone and iPad touchscreen tablet.

Apple's iPhone continued to be a key driver of growth with the company, selling more than 20 million units in the latest quarter, more-than-double the prior year's total. The iPhone continues to be a strong player in the smartphone market, despite an onslaught of competing devices running software from Google Inc.

For the quarter ended June 25, Apple reported earnings of $7.31 billion, or $7.79 a share, up from $3.25 billion, or $3.51 a share, a year earlier. Revenue jumped 82% to $28.57 billion, even though the company broke with past practice and didn't release a new iPhone.

The maker of computers and electronics devices, known for giving conservative guidance, said it expects fiscal fourth-quarter earnings of about $5.50 a share on revenue of about $25 billion. Analysts surveyed by Thomson Reuters expected a profit of $6.45 a share on $27.72 billion in revenue.

Asked about the lower-than-expected guidance during a conference call, an Apple executive said the company is planning a "future product transition" for the fourth quarter that will "impact" its results. Apple often makes lower margins when it introduces a new product as it improves its manufacturing processes.

The comments could suggest the launch of a new iPhone, which The Wall Street Journal recently reported could be introduced before the end of September.

The strong performance, which was powered by better-than-expected sales of both the iPhone and iPad, underscores the consumer-electronics giant's continued transition into a mobile-device company. Mobile devices, including Apple's iPod music player, accounted for nearly three-quarters of its revenue.

The blowout earnings come as the Cupertino, Calif. gadget maker gears up for new products. It has offered a peek at its new iCloud Internet service, an attempt to catch up to similar services offered by Hewlett-Packard Co.(HPQ) and Google. ICloud synchronizes and backs up data from a customer's device and will be released alongside a software update for the company's iPad, iPhone and iPod Touch products in the fall. Breaking with past practice, Apple did not release a new iPhone during