All hail the king: Apple beats sky-high earnings expectations with $13.1 billion profit

Apple on Monday posted an EPS of $14.50 on revenue of $57.6 billion, thus beating the consensus estimate of $14.09 EPS on revenue of $57.46 billion. Apple had an incredibly busy fall that was highlighted by several major product launches including the iPhone 5s, the iPhone 5c, the iPad Air and the iPad mini Retina, all of which were hot sellers over the holiday quarter. For 2014 Apple is expected to launch a larger version of its iconic iPhone that will have a display of at least 4.5 inches as well as a larger version of its iPad that will be targeted toward the education market. The company’s gross margin on the quarter was 37.9%, which was largely in line

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