Apple has sold over two million iPhones and reported record earnings but its share price has fallen

Apple reports record sales to end 2007

But share price falls

Written by Tom Royal

Computeract!ve, 23 Jan 2008

Apple's share price has dropped despite record sales for the final three months of 2007.

With a total revenue of $9.6bn (£4.8bn) and profits of £800m for the quarter, the company's share price fell significantly amid reports that some analysts were disappointed by the results.

Apple reported it had sold over two million Mac computers, over 22 million iPod music players and over two million iPhone handsets during the three-month period, which in the United States is considered the first financial quarter of 2008.

Apple CEO Steve Jobs hailed the results as the company's "best quarter ever, with the highest revenue and earnings in Apple's history". Nonetheless, the price of Apple shares fell after the announcement.

Financial news service Bloomberg reported that, although Apple beat its own profit forecast, some analysts had expected higher profits. It named a New York analyst who had predicted iPod sales of over 24 million.

The two million iPhone sales listed in Apple's report include those from the UK and Europe. Recent reports suggest that iPhone sales in the UK have failed to meet Apple's targets, with only 190,000 sold in the first eight weeks. In November one analyst predicted that pre-Christmas sales could reach 400,000 units.