Apple announced their quarterly financial results, where they revealed they sold 26.9 million iPhones (up 58 percent year-on-year) and 14.0 million iPads during the quarter (up 26 percent over the the same quarter last year). The company also sold 5.3 million iPods, a 19 percent unit decline during the same quarter in 2011.
Apple sold 200 million iOS devices, including 125 million iPhones and 58 million iPads, in the past year. Despite all these staggering numbers, it did not meet analysts expectations that the company would once again shoot past their stated forecasts.
“Going into earnings we were wondering if the slowing economy will catch up with Wall Street, and it has,” said Channing Smith, co-manager of the Capital Advisors Growth Fund. “Apple is very well positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative, but that’s not surprising. Err on the side of caution is a proven formula.”