Apple shares drop by 9 percent despite flat profits of 13.1 billion in Q1

Following reports of Apple making flat profits of 13.1 billion dollars during October to January quarter, the company's shares reportedly plummeted to 9 per cent in after- hours trading. Analysts expressed their disappointment at the company's sale record while investors were left in a lurch after the firm lowered its sales outlook for 2014.

Meanwhile, Apple said that the company had sold a record 51 million iPhones and 26 million iPads.

Apple's CEO Tim Cook said that the company was really happy with its iPhone and iPad sales, the BBC reported.

According to Cnet, analysts were unhappy with Cupertino, Calif., electronics giant claiming a record sale of 51 million iPhones against their expected 55 million.

Interestingly, Apple surpassed the analysts' estimated limit for its iPads, selling a record 26 million iPads against an expected 25 million.

While the company said that it expected revenue of up to 44 billion dollars in 2014, analysts predicted weaker revenues for Apple this year.