How to say numbers: Apple share price drop
You can hear how to say numbers in British English with the latest news about the share price of Apple.
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After Apple reported lower than expected iPhone sales last night, their share price tumbled more than 6%.
They sold 47.8 million in the last quarter of 2012, but that was not as many as the 50 million that analysts had predicted.
In the regular day’s trading Apple’s stock had risen, closing up 1.8 per cent at a share price of $514.01.
However, Apple aren’t doing too badly. For the first fiscal quarter they posted a net income of $13.07 billion, which works out at $13.81 per share. That compares to the previous year when for the same period, their profits were $13.06 billion, or $13.87 a share.
The predicted profits were 54.8 billion USD, but Apple just missed that target with sales totalling $54.5 billion. Unbelievably, this amount is the slowest growth for the company over a financial quarter since 2009.
Even with the 48m iPhones sold over Xmas being a little under target, it still means that the total number of iPhones sold in total since its creation in 2007 are a whopping 320m units.
Despite this latest blip, some financial experts have suggested that fears over Apple without Steve Jobs are misguided and that investors could see the stock slide as an opportunity to buy while the share price is low. One expert said that if Apple continues to grow in the same fashion for the next five years, then company revenues will reach a staggering $1.2 trillion – equivalent to the size of the GDP of Australia!