LONDON -- (Marketwire) -- 01/24/13 -- City Index UK: Apple announced its first quarter results after market close last night and roundly disappointed investors by missing market expectations.

Luckily for some, spread betting is a great way to take a position on a company such as Apple, with investors able to net a profit irrespective of whether a company's share price moves up or down.

On Wednesday, January 23, Apple reported that it had sold 47.8mn iPhones in December which, despite being a record amount, missed analyst expectations of 50mn sales. Revenues for the first quarter grew by 18% to $54.5bn, also below expectations of $54.73bn though earnings per share (EPS) came in at $13.81, beating the street's view of $13.47.

Forward looking elements of the report also continued to send a shiver down the spines of some Apple shareholders. Q2 revenues were forecast to come in between $41bn and $43bn, missing forecasts of around $45bn and marking the third consecutive quarter of disappointing revenue forecasts.

Apple's shares endured some increased volatility on the back of these results in after market hours trading in the US, with shares falling by over 7% in the immediate aftermath of the results being published. In Germany this morning, Apple shares plunged 11%. This, having seen share prices fall 27% after hitting a high in US trading of $705 on 21 September 2012.

What next for Apple shares?

With spread betting, you can take a position on stocks such as Apple irrespective of whether you expect prices to rise or fall following the earnings announcement.

For example, if you expect Apple's share price to recover in the coming weeks following the results, you could take a long position on the stock and your profits will rise in line with every increase in Apple's share price above your entry price. If, on the other hand, you expect Apple's shares to continue to fall, you can take a short position on the stock and if prices continue to fall -- below your entry price -- you would net a profit.

Find out more about spread betting with financial spread betting provider City Index.

Remember, with spread betting your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved.

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