European Apple Exec Says That Apple Plans To Break Even Next Quarter

| Apple Stock Watch

In a somewhat unusual move for the close-lipped Apple, a European executive has told the press that Apple intends to break even in the next quarter. Reuters is reporting that Pascal Cagni, Appleis general manager for Europe, Middle East and Africa, has told an Italian publication that due to the poor economy, Apple is shooting to break even. Apple usually limits comments concerning its financial performance to managed PR events and press releases in the US. From the Reuters article:

US computer giant Apple expects to break even in the next quarter after disappointing results in the previous quarter, head of Appleis European division said in an interview with Italian la Stampa daily published on Sunday.

In the fiscal third quarter that closed in June, Apple reported a 48 percent slide in quarterly earnings to $32 million and issued a cautious outlook for the current quarter, blaming weak markets for a blow to the recovery it began last year.

"It would be crazy to expect strong growth at this moment, therefore we aim to break even in the next quarter," Pascal Cagni, Appleis general manager for Europe, Middle East and Africa, told La Stampa.

Spokespersons from Apple was unavailable for comment at press time. Appleis stock opened lower today, and is trading at 14.75 0.25 (-1.67%) as of press time.

You can find the full Reuters report at Yahoo!is Web site. Forbes has also published a similar report based on the same source.

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