This Article is From Apr 24, 2013

Apple shares fall as buyback, dividend hike fail to please

Shares in Apple Inc are set to open down 3 per cent on Wednesday as the company's plan to return $100 billion in capital failed to appease shareholders shaken by the iPhone maker's first quarterly drop in profit in a decade.

A soft outlook from Apple for the current quarter prompted at least 17 brokerages to slash their price targets on the iPhone maker's shares by up to $180 per share. (Read full story)

Apple forecast revenue of $33.5 billion to $35.5 billion this quarter, lagging Wall Street's average expectations of $38.2 billion.

Apple shares traded at $393.67 premarket.

Copyright @ Thomson Reuters 2013