HITS Daily Double

Apple Q3 earnings

EVERYTHING’S RELATIVE: Apple had another profitable quarter—just not as profitable as Wall Street expected—causing shares to plunge in after-hours trading to a paltry $600.92. In its fiscal Q3, the tech giant posted a profit of $8.8 billion, or $9.32 per share, up 21% year-over-year, on revenue of $35 billion, up 22%, with record sales of 17 million iPads (+84%) along with 26 million iPhones (+28%). But, as the N.Y. Times noted, it looks as if many people are so sure the next iPhone is going to be good that they are not buying the ones Apple is selling now. The feverishly anticipated iPhone 5 is rumored to be arriving in September. During yesterday’s earnings call, the company also announced it would pay a dividend of $2.65 per share on Aug. 16. Apple releases its new Mountain Lion operating system today, while (7/25a)