IPhone News Byte: Apple Beats Wall Street View, Shares up 4%

Wochit 1:13 mins

Apple reported slightly better-than-expected fiscal third quarter revenue of $35.3 billion on solid sales of its flagship iPhone, sending its shares up 4% in after-hours trading, but fourth-quarter sales guidance fell short. Once the preeminent brand in Android, the Droid brand has taken a backseat to flagship phones. As the market has gravitated toward universally available franchises such as the iPhone and Galaxy S line-up, carrier-exclusive families such as Droid have seemingly lost their cachet. Verizon hopes to get its mojo back with Droid Ultra As anticipation builds for Apple's next-generation iPhone 5S, a new report suggests Apple will once again have trouble meeting early demand for the new phone. KGI Securities analyst Ming-chi Kuo has a good track record when it comes to details surrounding unannounced Apple products, and he reported in a research note that manufacturing issues will leave the iPhone 5S in short supply when it launches in late September.

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