Stock News : Apple Inc. (NASDAQ:AAPL) stock price flat after a week

Apple Inc. (NASDAQ:AAPL) shares are currently trading at $261.93 a weekly loss of $2.15 which is 0.81% down from last Tuesday’s closing price of $264.08. The company’s shares have 52-week trading range of $159.42 - $279.01. The daily average volume of the stock is 23.16 million shares. The company has 50 day moving average of $257.38 and 200 day moving average of $226.70. The RSI of the stock is 55.45, showing a neutral position of the stock. The sustenance and resistance levels of Apple Inc. are $243.37 and $276.52. The Market Capitalization of the company is $239.29 billion.

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Apple has recently reported its second quarter results. The Company posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. These results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.

Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The Company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. The Company began selling iPads during the quarter, with total sales of 3.27 million.

During this quarter coming did face issues regarding the reception of the network coverage from many users of iPhone 4.  However this did not stop the sale of iPhone 4. From 30 Jul iPhone 4 is going to be sold in 17 new countries. These countries are Australia, Austria, Belgium, Canada, Denmark, Finland, Hong Kong, Ireland, Italy, Luxembourg, Netherlands, Norway, New Zealand, Singapore, Spain, Sweden and Switzerland. On Aug 3, Apple has also received approval from South Korea to sell iPhone 4.

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Apple has recently launched 2 new products, 27-inch LED Cinema Display and Mac Pro.

Apple Inc. designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers. In December 2009, the Company acquired digital music service Lala.

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