Late yesterday, Apple (AAPL) announced record earnings of $57.6 billion for the last quarter of 2013. The company sold a record number of iPhones (51 million) and a record number of iPads (26 million), both of which contributed to a very healthy profit of $13.1 billion. By almost every measure of financial success, Apple is doing extremely well.
Why, then, on the back of record earnings, did Apple’s stock price tumble almost 10%? Why, after being one of the most successful companies in the world for the last 10 years, has its stock price been trending downwards for almost two years? For some reason, despite being one of the most popular, well-known, and desirable brands in the world, nothing Apple does ever seems to be good enough.
Some analysts also noted investors should be relieved CEO Tim Cook confirmed Apple remains on pace to unveil new product categories this year. Speculation has centered on possible TV and watch products.