Apple Inc. fell in U.S. trading after profit missed analysts’ predictions for the first time in at least six years, evidence that customers delayed iPhone purchases before the release of the latest model.
The Japanese earthquake and tsunami will probably weigh on Apple Inc. ’s forecasts for third-quarter profit, sales and gross margin because of higher component prices and disrupted manufacturing, analysts said.
Apple Inc. is poised for a record iPhone 5 debut and may not be able to keep up with demand as customers lined up in Sydney, Tokyo, Paris and New York to pick up the latest model of its top-selling product.
Most U.S. stocks rose, with the Standard & Poor’s 500 Index briefly topping 1,500, as an unexpected drop in jobless claims and better-than-forecast earnings offset the worst slump for Apple Inc. in four years.
Apple Inc. Chief Executive Officer Tim Cook is betting that his company can keep cranking out best- selling gadgets even while paying a dividend, avoiding the fate of peers that return money to investors yet grow more slowly.