Apple misses iPhone sales target, looks to strong Q4

Punters delayed purchase on rumours of iPhone 5
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Apple reported the firm's full-year results in which the firm missed iPhone sales targets which sent shares into a six per cent tail spin in after hours trading.

Yet despite missing iPhone sales targets, almost certainly due to the impending arrival of the iPhone 4S, the company still reported a record third quarter of $28.3 billion, the fifth consecutive quarter that the company booked sales in excess of $20 billion.

The company was understandably enthusiastic about earning potential in the next quarter given the already healthy sales of the iPhone 4S.

"Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline," said Apple CEO Tim Cook.

Elsewhere the firm's business was stronger than expected with the iPad selling 11.1 million units, ahead of the 10 million analysts expected. In the same quarter a year ago Apple sold just 4.2 million tablets.

Apple will reportedly close the firm's retail stores in North America for several hours, allowing staff to watch a like webcast of a memorial service for co-founder Steve Jobs.

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