Apple narrowly misses Q4 targets

Apple quarterly earnings have narrowly missed the lowered predictions of analysts that followed in the wake of its September profit warning. The company also warned that sales for the rest of the year would be slow than expected.

The company reported Q4 earnings, with profits of $170m, or 47 cents per share. Profits were $108m, or 30 cents per share - excluding the sale of $62m worth of ARM holdings. This was one cent below the street's revised estimates. Revenue for the quarter was $1.87bn, the company had anticipated revenue of $2.05bn. Jobs also announced revised sales predictions for the next 12 months. Apple's share price fell to a 52-week low of $18.31 on the news after closing last night at just above $20, but rallied slightly in early afternoon trading.