Apple, Qualcomm, Concur Tech: Tech Winners & Losers

Tickers in this article: CNQR QCOM AAPL

NEW YORK (TheStreet) -- Apple(AAPL) shares continued to slide, falling 2.34% to $544.97 following news the iPhone 4S was surpassed by a competitor.

Samsung's Galaxy S III surpassed the top selling Apple phone in August, selling 18 million units to a reported 16.2 million units for the iPhone 4S, according to Strategy Analytics. Apple launched the iPhone 5 in late September and reportedly sold 6 million units prior to the end of the third quarter.

Apple said it sold 26.9 million iPhones overall during the quarter, a 58% year-over-year hike.


Though Apple has been in the doldrums lately, one of its suppliers is doing exceptionally well, as Qualcomm(QCOM) reported better-than-expected earnings.

The San Diego-based company reported earnings of 89 cents a share on $4.87 billion in revenue for its fiscal fourth quarter, up 18% year-over-year and 5% sequentially. Analysts polled by Thomson Reuters expected the chip maker to earn 82 cents per share on $4.66 billion in revenue.

Qualcomm also said it expects a strong first quarter, as smartphone demand, particularly at the high-end, continues to be strong. The company anticipates revenue of between $5.6 billion and $6.1 billion, with non-GAAP earnings ranging from $1.08 to $1.16 per share. Analysts surveyed by Thomson Reuters are currently looking for revenue of $5.295 billion and earnings of $1 a share.

Shares were rising 4.97% to $61.01 in mid-day trading.


Concur Technologies(CNQR) fell sharply, losing 4.96% to $61.74, after the company reported mixed quarterly results.

The hosting software company earned 40 cents per share on $118 million in sales during its fiscal fourth quarter. Wall Street analysts were looking for 25 cents per share on revenue of $119 million.

Concur gave mixed first-quarter guidance. It sees earnings per share of 30 cents on revenue of about $121.7 million. Wall Street analysts are looking for 25 cents per share on $125.6 million.

Shares have rebounded from earlier in the session though when they traded as low as $57.70.

Interested in more on Concur Technologies? See TheStreet Ratings' report card for this stock.

--Written by Chris Ciaccia in New York

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