Apple turnover

27 January 2014 By Robert Cyran Follow @rob_cyran

The tech giant’s modest quarterly results highlight the risks of relying on just a few aging mega-hits. The iPhone and other top offerings have made the firm worth more than any other in the world. But eroding market share, and $40 bln in vaporized value, portend trouble.

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Apple on Jan. 27 reported revenue of $57.6 billion for the fiscal fourth quarter ending Dec. 28, 2013, an increase of 6 percent from a year earlier. Earnings were flat at $13.1 billion, but earnings per share rose 5 percent to $14.50 because stock repurchases reduced the number of shares outstanding.

The company said it sold 51 million iPhones during the quarter, compared with 47.8 million in the same quarter a year ago. It sold 26 million iPads, compared with 22.9 million a year ago. Mac sales increased to 4.8 million, from 4.1 million. IPod sales fell 52 percent to 6 million.

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