Computer and mobile device maker Apple Inc. ( AAPL ) late Thursday posted mixed fiscal fourth quarter earnings results and offered a tepid forecast.
The Cupertino, CA-based company reported fiscal fourth quarter net income of $8.2 billion, or $8.67 per share, compared with $6.6 billion, or $7.05 per share, in the year-ago period.
Revenue rose 27% from last year to $36 billion.
On average, Wall Street analysts expected a higher profit of $8.75 per share, albeit on lower revenue of $35.8 billion.
Looking ahead, AAPL forecast fiscal 2013 first quarter profits of $11.75 per share, on revenue of $52 billion. Those numbers would fall well short of analysts' view of $15.41 per share on $55 billion in revenue. Historically, however, Apple's stated outlooks have always been conservative. For instance, the company beat its own fourth quarter profit forecast in its latest report by more than $1 per share.
Apple shares posted small gains in premarket trading Friday.
The Bottom Line
Shares of Apple ( AAPL ) have a 1.74% dividend yield, based on last night's closing stock price of $609.54. The stock has technical support in the $575-$600 price area. If the shares can firm up, we see overhead resistance around the $628-$650 price levels.
Apple Inc. ( AAPL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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