Apple Recap: Profit Monster, PC Victories, iTunes Landmark
After staying in the green for most of the day on Wednesday, Apple (NASDAQ:AAPL) disappointed its investors once again by closing 0.11 percent down at $457.35. While some of the early trading activity was attributed to positive talk around the company, and more than one report suggested the company’s products was doing well, the markets continued their recent run of dislike for the stock. Here’s a cheat sheet to the top stories surrounding the company on the day…
Rivals and Profit Monsters
Apple and Samsung (SSNLF.PK) together made up 101 percent of all mobile phone profits in the last quarter of 2012, and the iPhone maker was the overwhelming winner with a commanding 72 percent share. Samsung accounted for 29 percent, according to research from Canaccord Genuity. For the full year, Apple’s $35.903 billion in operating income from mobile devices accounted for 69 percent of the total profits, while Samsung came in at 34 percent. The higher than 100 percent share for the two rivals was because Nokia’s (NYSE:NOK) losses gave it a negative 2 percent profit, while Motorola (NASDAQ:GOOG) and Sony (NYSE:SNE) together accounted for negative 1 percent.
“Given the current competitive dynamics, we believe Apple and Samsung will maintain dominant value share during [the first quarter of 2013] with share gains for Samsung versus Apple expected,” Canaccord Genuity analyst T. Michael Walkley said. The gains for Samsung are expected because of the possibility of the launch of the Galaxy S4 handset at the end of March… (Read more)