Apple tops 3Q earnings and revenue expectations

Dow component United Technologies fell 4.9 percent to $105 after the company cut its full-year profit outlook as it warned of pressures in its aerospace systems and Otis elevators businesses.

Apple shares tanked over 7 percent in after-hours trading following release of the company’s fiscal third-quarter earnings report.

Out of 37 analysts polled by TipRanks, 24 analysts are bullish, 11 are neutral, and two are bearish on Apple stock.

Apple (NASDAQ:AAPL) opened at 132.07 on Monday. “Revenue is up 33 percent, the fastest growth rate in 3 years, and earnings per share are up 45 percent”. The shares were sold at an average price of $128.52, for a total transaction of $4,870,522.44. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Apple in a research note on Tuesday.

Over the next year, covering analysts have a consensus price target on the stock of $149.592. (Note that I own Apple shares). The disclosure for this sale can be found here.

During the quarter, Yahoo’s display revenue, excluding traffic acquisition costs, rose to $406.7 million from $393.8 million a year ago. Industry Analyst at S&P Capital IQ. Analysts at Oppenheimer reiterated an “outperform” rating and set a $155.00 price target on shares of Apple in a research note on Friday. The shares could manage an average rating of 1.78 from 34 analysts. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-seven have given a buy rating to the company. The stock now has an average rating of “Buy” and a consensus target price of $137.85. The name dominates the index as no other company has in 30 years.

Mayer said that on the whole, she was pleased with the revenue increase in the quarter, pointing out the 60 percent jump in areas of mobile, video, native advertising and social. The reason shares are down 7% in the aftermarket is due to iPhone unit sales of 47.5 million compared to investor thinking for 49 million or more. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. Furthermore, he believes that “the company’s high-end of guidance [will] be in-line with the Street’s Sep-15 expectations” based on projected sales. In February 2012, the Company acquired app-search engine Chomp.