Shares of Apple tumbled Thursday after it posted disappointing quarterly results, hitting lows last seen in January 2012. Yes, Apple's still selling a ton of iPhones and iPads, but it's just not making as much on them as it used to.
The market wasn't exactly blown away by Apple's iPhone 4S announcement yesterday: Shares of Apple bucked the trend on a day when the general market rallied. Where were the special features already beginning to appear on Android smartphones? And where was the salesmanship of former CEO Steve Jobs, sorely lacking in Tim Cook?
Apple's earnings per share nearly doubled last quarter, and its performance the previous quarter was almost just as good. But Apple's shares are only up 11% in the last six months, trailing the Nasdaq. Here's why the stock could be set to take off.
That's because Wednesday's launch is expected to be more of a refresh rather than a totally new product. However, if Steve Jobs were to show up at the launch event, that would get investors excited and likely pump up Apple shares.
Shares of the consumer electronics company crossed the $300 mark for the first time ever Wednesday. And with sales of iPhone 4s and iPads still holding steady, there could be more room to grow.
