Seeking Alpha

Apple beats estimates, issues solid guidance; shares lower

  • Apple (AAPL): FQ4 EPS of $8.26 beats by $0.33.
  • Revenue of $37.47B (+4% Y/Y) beats by $630M.
  • 33.8M iPhones, 14.1M iPads, 4.6M Macs.
  • Expects FQ1 revenue of $55B-$58B vs. $55.65B consensus.
  • Shares -3.6% AH. CC at 5PM ET. (PR)
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Comments (87)
  • criticalbear
    , contributor
    Comments (81) | Send Message
     
    punished for being profitable again
    28 Oct 2013, 04:35 PM Reply Like
  • wigit5
    , contributor
    Comments (4101) | Send Message
     
    once your the most profitable company in the world profits arent good enough anymore....

     

    cheer up though it should hold $500 and trend upward from there.
    28 Oct 2013, 04:36 PM Reply Like
  • ReligiousWacko
    , contributor
    Comments (1119) | Send Message
     
    yep, its not "investing in the future".
    28 Oct 2013, 04:42 PM Reply Like
  • ronjohn26
    , contributor
    Comments (86) | Send Message
     
    well done apple . well done :)
    28 Oct 2013, 04:53 PM Reply Like
  • flux8
    , contributor
    Comments (589) | Send Message
     
    I'm not worried. As Buffett said, "In the short term the market is a popularity contest; in the long term it is a weighing machine."

     

    Apple's cash weighs a lot.
    28 Oct 2013, 05:08 PM Reply Like
  • pagreen1966
    , contributor
    Comments (596) | Send Message
     
    And you have a nice dividend to enjoy while it bounces around $500!
    29 Oct 2013, 04:40 AM Reply Like
  • jebworks
    , contributor
    Comments (169) | Send Message
     
    And how does the market react? With a sell-off! Do they expect Apple to introduce a spaceship, or what? Ridiculous.
    28 Oct 2013, 04:36 PM Reply Like
  • wigit5
    , contributor
    Comments (4101) | Send Message
     
    a spaceship would be appropriate.
    28 Oct 2013, 04:41 PM Reply Like
  • MJ Pragmatist
    , contributor
    Comments (141) | Send Message
     
    They already introduced a spaceship. It's called their new headquarters.
    28 Oct 2013, 04:42 PM Reply Like
  • bpork
    , contributor
    Comments (50) | Send Message
     
    I want it in 5 different colors too!
    28 Oct 2013, 04:42 PM Reply Like
  • jebworks
    , contributor
    Comments (169) | Send Message
     
    True. Forgot about that, so maybe it's a moon rocket the market expects!
    28 Oct 2013, 04:59 PM Reply Like
  • Davy Crockett
    , contributor
    Comments (127) | Send Message
     
    Part of the drop may be a reaction to the initial AP headline: "Apple's iPhone sales rise, but 4Q earnings fall," along with similar headlines from other news organizations. No sane person expected EPS greater than last year, so wait till tomorrow to see how the market will react to this modest beat. Apple really needs to come out with an iTooth Fairy to silence its critics.
    28 Oct 2013, 05:09 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4085) | Send Message
     
    Give it 30 minutes.......digestion time.
    28 Oct 2013, 04:37 PM Reply Like
  • acsatix
    , contributor
    Comments (121) | Send Message
     
    Apple’s cash, cash equivalents, and securities added up to almost $147 billion at the end of the September quarter

     

    it seems good to me.
    28 Oct 2013, 04:57 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    @TruffeIPig & Left Banker: It is more than thirty minutes, AAPL somewhat going upwards, let's hope it is going upside for the rest of the day. It seems that Apple investor are caught in disbelief how Wall Street behaved toward Apple.
    28 Oct 2013, 05:38 PM Reply Like
  • genomegk
    , contributor
    Comments (512) | Send Message
     
    Well how about 60 minutes?

     

    http://bit.ly/WWyapz
    28 Oct 2013, 05:48 PM Reply Like
  • sillybyinvestor
    , contributor
    Comments (3) | Send Message
     
    good call!!!
    28 Oct 2013, 06:01 PM Reply Like
  • alext1379
    , contributor
    Comments (706) | Send Message
     
    They needed to make their earnings report a big marketing show like Samsung.

     

    That's the price for being the leader. Unless you exceed perfection, shareholders sell.

     

    If you're a me-too company, all you have to do is show a paper profit regardless if the money came from customers or the government stuffing your pockets to make it look like you're profitable.
    28 Oct 2013, 04:37 PM Reply Like
  • Stan Low
    , contributor
    Comments (39) | Send Message
     
    It should change its ticker to AAMZN. Then a report like this would send it up $150
    28 Oct 2013, 04:39 PM Reply Like
  • ThetaDecay
    , contributor
    Comments (107) | Send Message
     
    AAPL is a classic buy-on-the-rumor, sell-on-the-news stock. You've had almost a 20% run-up in the last month. You lack perspective if you feel the need to complain about a small sell-off at these levels.
    28 Oct 2013, 04:40 PM Reply Like
  • bondstevenbond
    , contributor
    Comments (164) | Send Message
     
    Totally agree. Nov 1 $555 covered call sale is working nicely after the news.
    28 Oct 2013, 04:51 PM Reply Like
  • cshoxie
    , contributor
    Comments (280) | Send Message
     
    You've seen this movie before. It plays every quarter. You should know the lines by now. In other words: You should have sold last week. Hint: It will be coming to a theatre near you again in approximately 3 months.
    28 Oct 2013, 05:04 PM Reply Like
  • SpyInvestor
    , contributor
    Comments (2) | Send Message
     
    like that comments, as smartphone market becomes more maturate, iphone fever is gone in the market, people start quickly get in and out, take profit. this stock will hurt lots of small investors now.
    28 Oct 2013, 05:58 PM Reply Like
  • JamesAlpine
    , contributor
    Comments (74) | Send Message
     
    Any news on buy back volume (or is that not in wire released to news agencies)?
    28 Oct 2013, 04:42 PM Reply Like
  • scott trader
    , contributor
    Comments (4836) | Send Message
     
    ........ridiculous .... No respect by Wall Street....compared to most of the other tech companies apple is so undervalued....even puppet Guana is even having a hard time dismissing earnings
    28 Oct 2013, 04:42 PM Reply Like
  • financeminister
    , contributor
    Comments (786) | Send Message
     
    Icahn, your turn - tweet dinner, lunch, breakfast, snacks, tea time...anything!
    28 Oct 2013, 04:43 PM Reply Like
  • JamesAlpine
    , contributor
    Comments (74) | Send Message
     
    Ps - I'll take it! Another $10b in cash added to the pile?
    28 Oct 2013, 04:43 PM Reply Like
  • Left Banker
    , contributor
    Comments (2069) | Send Message
     
    Truffle Pig has it right. Give it a bit of time. Up before the hour's out.
    28 Oct 2013, 04:44 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    I wanted to shout on the top of my lunges, Why?.
    28 Oct 2013, 05:24 PM Reply Like
  • Left Banker
    , contributor
    Comments (2069) | Send Message
     
    Ok, couldn't be there at 17:44, but by 18:30, it's up. Probably will close AH essentially unchanged and run up smartly in the AM
    28 Oct 2013, 06:36 PM Reply Like
  • flux8
    , contributor
    Comments (589) | Send Message
     
    Fine with me. I have some more cash that I'm looking to park.
    28 Oct 2013, 04:48 PM Reply Like
  • diaboliqueguan
    , contributor
    Comments (435) | Send Message
     
    something wrong's with the street, AAPL keeps churning profits and sales, and gets punished. while AMZN ... well you know.
    28 Oct 2013, 04:50 PM Reply Like
  • The Sceptic
    , contributor
    Comments (59) | Send Message
     
    Nobody is "punishing $AAPL" ... just the stock price is down because there are folks willing to sell at a lower price ... likely because of one of these reasons
    - they can still make a buck by selling immediately at this price
    - they don't think they will get a better price tomorrow
    - they want to go cash so they can use the money for something else - including buy back AAPL at hopefully better entry point before next qtr

     

    This does not diminish the future prospects of AAPL ... especially next quarter. AAPL trading has always been about buying the rumor and selling the news.
    28 Oct 2013, 04:51 PM Reply Like
  • mostserene1
    , contributor
    Comments (3343) | Send Message
     
    Normal: sell on the great news.

     

    Apple is one of the very best stocks, earnings and dividend-wise, yet punished by the market for not being Amazon. Punished for actually making a profit.
    28 Oct 2013, 04:51 PM Reply Like
  • redponydoc
    , contributor
    Comments (363) | Send Message
     
    It is not normal to sell on good news.
    28 Oct 2013, 04:55 PM Reply Like
  • RaulReina
    , contributor
    Comments (35) | Send Message
     
    Google dixit... it went 5% up on earnings reports and 13%+ the next day on more modest than Apple beat earnings report
    29 Oct 2013, 03:26 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    Google is Wall Street darling versus Apple is second class.
    Apple should pack up and move to Germany, Japan, and relist there, those countries would be proud, love and respect Apple. The US does not deserve Apple.
    29 Oct 2013, 03:38 PM Reply Like
  • wigit5
    , contributor
    Comments (4101) | Send Message
     
    not sure moving to Germany/Japan is a great idea...
    29 Oct 2013, 03:46 PM Reply Like
  • Twest
    , contributor
    Comments (136) | Send Message
     
    If you owned the company outright for $529 per share, then you would only have earned 1.6% return on your money in the most recent quarter. That is not much return for all of that risk and hard work.

     

    $8.26 in earnings / $529 (pre-announcement price) = 1.56% return, to be more exact.
    28 Oct 2013, 04:52 PM Reply Like
  • acsatix
    , contributor
    Comments (121) | Send Message
     
    mind you google earned much less and marked up a thirteen percent in the trading session that followed earnings report.
    28 Oct 2013, 04:59 PM Reply Like
  • nfultz1
    , contributor
    Comments (73) | Send Message
     
    Your selective numbers skew the picture. You would need to take the opening price for the quarter to calculate the return. Opening price was $438.93 for the quarter. $8.26/$438.93 = 1.9% or about 7.5% annually.

     

    Also, that doesn't take into consideration the fact that buying a share entitles the shareholder to a dividend, which is basically profit from previous quarters/years. The real return to a new shareholder would be $8.26(Incremental Earnings) + $3.65(Previous Earnings) = $11.91 or 2.7% for the quarter. This would be without any growth at all.
    28 Oct 2013, 05:09 PM Reply Like
  • VictorHAustin
    , contributor
    Comments (827) | Send Message
     
    When I was a kid you called the funeral home if you needed an ambulance and they brought the hearse. Now we have mobile CICU and air evac.

     

    My point? It's gotten so safe and easy that reality seems not to matter anymore unless it's TV reality show. It's all the reparte and the story. A loser is always required and is more the object of the search than a winner.

     

    These are mostly the TV fans tonight. Wait for the pros to come back tomorrow. They recognize that the announcement actually changed nothing except knowledge. There is no need to make a major portfolio shift tonight.
    28 Oct 2013, 04:53 PM Reply Like
  • Atkins
    , contributor
    Comments (1045) | Send Message
     
    The pros know less than many TV fans. Remember, they've driven up the junk stocks to new heights. Wouldn't shock me if we get some downgrades or "sector performs."

     

    But watch out for the jet fuel that is Herbalife....

     

    What a market!
    28 Oct 2013, 05:36 PM Reply Like
  • Sharif Galal
    , contributor
    Comments (97) | Send Message
     
    Whatever this is a buy the rumor sell the news perfect example
    28 Oct 2013, 04:55 PM Reply Like
  • ekin09
    , contributor
    Comments (106) | Send Message
     
    @jebworks Why not? I am sure the guys in Google X labs have considered it. Just like the space elevator. Google's forward thinking is what will set them apart.
    28 Oct 2013, 05:00 PM Reply Like
  • flux8
    , contributor
    Comments (589) | Send Message
     
    Google's "forward thinking" has yet to make any money for the company other than increasing their stock price.
    28 Oct 2013, 05:04 PM Reply Like
  • jebworks
    , contributor
    Comments (169) | Send Message
     
    Buy the rumor sell the news I get it, if it were bad news!
    28 Oct 2013, 05:01 PM Reply Like
  • tpg53
    , contributor
    Comments (4) | Send Message
     
    I would liken this nonsense to this:

     

    AAPL = Republican Party (doing things right gets you punished).
    AMZN = Democrtic Party (screw everybody and you will get rewarded)
    28 Oct 2013, 05:02 PM Reply Like
  • bgold1955
    , contributor
    Comments (2066) | Send Message
     
    Tpg53.... NO ONE CARES ABOUT YOUR POLITICS.
    28 Oct 2013, 05:28 PM Reply Like
  • UnStopaBull!
    , contributor
    Comments (176) | Send Message
     
    Like shuting down the govt and threatening default?
    28 Oct 2013, 06:15 PM Reply Like
  • tpg53
    , contributor
    Comments (4) | Send Message
     
    Wall Street cares about politics. Just watch the markets do a dive when there is negative news in our political arena.
    28 Oct 2013, 06:27 PM Reply Like
  • portatopia
    , contributor
    Comments (603) | Send Message
     
    tpg53, so true!
    28 Oct 2013, 06:33 PM Reply Like
  • User66224
    , contributor
    Comments (197) | Send Message
     
    "Apple beats estimates, issues solid guidance; shares lower"

     

    Story of APPL's iLife.
    28 Oct 2013, 05:19 PM Reply Like
  • FAT BANKER
    , contributor
    Comments (927) | Send Message
     
    WALL STREET would have to be a sane institution run the good and rational for things to be different. NO GREAT SURPRISE HERE THEN !
    However. despite Wall Street antics Apple is unstoppable in the long run.
    28 Oct 2013, 05:23 PM Reply Like
  • Sammy Lee
    , contributor
    Comments (304) | Send Message
     
    There is no justice when it comes to AAPL.
    28 Oct 2013, 05:24 PM Reply Like
  • Girish Shah
    , contributor
    Comments (30) | Send Message
     
    Unbelievable. Apple actually makes money and gets punished. Amazon loses money and is rewarded. We are living in a science fiction movie.
    28 Oct 2013, 05:34 PM Reply Like
  • FAT BANKER
    , contributor
    Comments (927) | Send Message
     
    RE Girish Shah Comment 18

     

    Steve would have 'dealt' with these Wall Street money morons, however maybe, in the 'long game', Tim's cooler and shrewder way will win the day.
    28 Oct 2013, 05:42 PM Reply Like
  • 215304
    , contributor
    Comments (642) | Send Message
     
    Apple beats on earnings, earns over $8 a share, beats on revenues, beats on guidance. Apple down 3%. Amazon matches expectations on earnings of negative $.09 a share, beats on revenues due to an accounting change regarding ebooks, and disappoints on guidance, up 9%. Does anyone see anything wrong with this picture?
    28 Oct 2013, 05:38 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    Yes, we're all seeing something wrong in disbelief and surprised but no-one has an answer, WHY?.
    28 Oct 2013, 05:42 PM Reply Like
  • FAT BANKER
    , contributor
    Comments (927) | Send Message
     
    ispank Comment 191

     

    Sacking the temple of Capitalism ?! - Like Jesus ?

     

    Unlikely as the American religious are complicit
    28 Oct 2013, 05:47 PM Reply Like
  • sasa1216
    , contributor
    Comments (2) | Send Message
     
    Ya we all are, I don't know why??? but if you dig it out dipper and dipper may be you will find an answer.
    29 Oct 2013, 03:25 AM Reply Like
  • genomegk
    , contributor
    Comments (512) | Send Message
     
    Ok those who think this is a spectator sport should look again at the AH ticker.

     

    http://bit.ly/WWyapz
    28 Oct 2013, 05:44 PM Reply Like
  • chemguy2
    , contributor
    Comments (24) | Send Message
     
    AAPL beat the whisper numbers ($8.02 eps, $37 billion revenue), but margins may have been a little short. Only AAPL has to beat absolutely everything any analyst can come up with to rise after an earnings announcement. And then you have TC talking about new products--again not offering even a hint of anything specific, but reiterating how there will be tons of new products in new categories. This, by itself, has become enough of a reason for some to sell. TC just doesn't understand that his job is to be a showman at these conference calls. He needs to study with Jeff Bezos, at a minimum.
    28 Oct 2013, 05:45 PM Reply Like
  • mosheoskar
    , contributor
    Comments (58) | Send Message
     
    Tomorrow will be green
    28 Oct 2013, 05:52 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    @mosheoskar: Let's hope so, investors are all caught in disbelief how
    Wall Street behaved toward Apple, kind of strange, but there is no one can answer the question, why?.
    28 Oct 2013, 05:55 PM Reply Like
  • vicetrader
    , contributor
    Comments (4) | Send Message
     
    This is absurd
    28 Oct 2013, 05:57 PM Reply Like
  • chrtrbrkr
    , contributor
    Comments (8) | Send Message
     
    I just want to know what is wrong with people. What do these people want? Pitiful. I'm buying more.
    28 Oct 2013, 05:57 PM Reply Like
  • dulwilliams
    , contributor
    Comments (27) | Send Message
     
    Thank God the entire stock market is not judged the same way, or all of us would be broke!
    Hold long people, and hold on for dear life! This stock has been undervalued for too long!
    28 Oct 2013, 05:57 PM Reply Like
  • Mike Fernnadez
    , contributor
    Comment (1) | Send Message
     
    Apple Makes $1bn per second. Shares are now just 3cents !!
    28 Oct 2013, 05:58 PM Reply Like
  • SurfRat3
    , contributor
    Comments (69) | Send Message
     
    Unfortuntaely, AAPL is still the stepchild who can never do anything right in the eyes of the larger investment community. However, with virtually unlimited resources at it's disposal, one day AAPL will shine brightly again. Long AAPL.
    28 Oct 2013, 06:01 PM Reply Like
  • sduris
    , contributor
    Comments (557) | Send Message
     
    I feel like I am living in fantasyland, seeing some of these comments. Being in corporate finance, it is very easy to communicate guidance in the previous quarter so it beats estimates in the new quarter. Stock price is disappointing so until AAPL "solves the problem", we're in for more of the same. Very telling that domestic sales are down. Hope things can get fixed soon. The new retail boss should help some. Long AAPL who lives in reality.
    28 Oct 2013, 06:04 PM Reply Like
  • milehr
    , contributor
    Comments (497) | Send Message
     
    Normal (for Apple) knee-jerk reaction. Shares will recover in a few days, and move higher.
    28 Oct 2013, 06:13 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11135) | Send Message
     
    Yawn, a big quarter for new product releases and hardly a bump in sales, especially in iPhones. This is not a good earnings report, especially since they didn't drop prices yet so they are still booking large profits without a whole lot of growth and still their gross profit fell. It looks like their momentum continues to slow which is expected since it was slowing anyway.
    28 Oct 2013, 06:15 PM Reply Like
  • UnStopaBull!
    , contributor
    Comments (176) | Send Message
     
    Wtf are you talking about? New product available for about the last two weeks of the quarter? This upcoming quarter is where the big money will be made.
    28 Oct 2013, 06:42 PM Reply Like
  • UnStopaBull!
    , contributor
    Comments (176) | Send Message
     
    Wtf are you talking about? New product available for about the last two weeks of the quarter? This upcoming quarter is where the big money will be made.
    28 Oct 2013, 06:42 PM Reply Like
  • WisPokerGuy
    , contributor
    Comments (868) | Send Message
     
    Hey Moon... with logic like that, all I can say is thank god you aren't my financial advisor. I'm going to page through your other 9000+ comments for other tidbits of "wisdom". Good grief.
    28 Oct 2013, 11:53 PM Reply Like
  • Bill Maurer
    , contributor
    Comments (4967) | Send Message
     
    Here's my report on the quarter:

     

    http://seekingalpha.co...
    28 Oct 2013, 06:34 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    Organized attacking Apple from the social media.
    Yes it has been a bad year for AAPL, but how much did the media and market get wrong, and how much was purposely wrong to suppress share prices?

     

    • The market says Apple is losing its relevance - sales and web usage says differently.
    • The market says no return of wealth to shareholders - Apple does buy back, retires millions of shares to increase EPS and gives a reasonable dividend. Sounds like a good start to me.
    • The market says Apple growth and profit has stalled, but quarterly reports say differently.
    • The market says no innovation - Apple comes out with amazing Mac Pro, 64 bit iPhone, M7 coprocessor, useable fingerprint security. The list goes on... A recent poll of 1500 senior execs across a range of industries says Apple is still the most innovative company in the world - for 8th year in a row.
    • The market and media says not enough new choices, Apple needs a bigger phone and one that is cheap. - 9 million consumers seem ok with new choices on the very first weekend.
    • The market says no China Mobile deal - now everyone knows this is around the corner.
    • The media and Wall Street and tech companies laughed at the first iPhone, iPad, gold iPhones, others - they don’t laugh in private.
    • The media says iOS is outdated. New iOS has an adoption rate explosion. And the OS stacks up better than Android versions in ease of use by objective 3rd party testing.
    • The media says China labor misuse taints the company - Apple is doing more to correct labor issues than any other Western company.
    • The media says Apple is not charitable - the truth is that Apple and its employees give a lot, more under Tim Cook.
    • The media says Android will destroy Apple - not so far. Not ever.
    • The naysayers say that Apple copies and Samsung did not steal from Apple - the patent office and courts say differently.
    • The analysts call for numbers based on lies and errors - they are never right.

     

    I doubt there has ever been a company that has been organizable attacked with such vigor yet remained so successful. So many expected it was doomed, and yet Apple shows resilience through innovation, focus on great consumer products, leadership and marketing. With all this evidence of how the market and media have it so wrong, it is no wonder that AAPL investors are so frustrated. But Wall Street and the media can only suppress AAPL for so long - like pushing a basketball under water, it is just too much effort.
    28 Oct 2013, 06:36 PM Reply Like
  • sdinvest2012
    , contributor
    Comments (2) | Send Message
     
    Negative pressure on stock after hours is caused by important stat left out of this summary:

     

    (for the upcoming holiday quarter / Q1) The company also said it expects gross margin of 36.5% to 37.5%, under the 37.8% analysts were expecting.
    28 Oct 2013, 09:31 PM Reply Like
  • blackboss
    , contributor
    Comments (4) | Send Message
     
    Sold my 555 11/8 calls in the morning for 50% gain. Will buy the 525 weeklies on the move thru 522.
    28 Oct 2013, 09:31 PM Reply Like
  • sdinvest2012
    , contributor
    Comments (2) | Send Message
     
    Partial reason for negative stock move after the announcement is significant declining Gross Margin stat left out of summary above:

     

    (For the upcoming holiday quarter at Apple):
    The company also said it expects gross margin of 36.5% to 37.5%, under the 37.8% analysts were expecting.
    28 Oct 2013, 09:32 PM Reply Like
  • ispank
    , contributor
    Comments (623) | Send Message
     
    You reversed the orders, the facts are: Apple beats Wall Street expectation with 37.8% while analysts expectation was 36.5% -37.5%.
    29 Oct 2013, 12:02 AM Reply Like
  • mccarvik
    , contributor
    Comments (3) | Send Message
     
    Back in the green AH, sanity prevailed
    28 Oct 2013, 09:49 PM Reply Like
  • sasa1216
    , contributor
    Comments (2) | Send Message
     
    I don't know why??? but if you dig it out dipper and dipper you will find an answer.
    28 Oct 2013, 10:02 PM Reply Like
  • wigit5
    , contributor
    Comments (4101) | Send Message
     
    You posted this twice and I'm not sure why but either way I think you mean "... dig it out DEEPER and DEEPER..."

     

    in your sentence "dipper" doesn't make sense... I'm assuming English isn't your 1st language so just trying to help out :)
    29 Oct 2013, 08:08 AM Reply Like
  • attachepr
    , contributor
    Comments (2) | Send Message
     
    A good sharing at all and enjoyed all the comments of viewers.
    29 Oct 2013, 09:30 AM Reply Like
  • RaulReina
    , contributor
    Comments (35) | Send Message
     
    Headline:Apple beats estimates, issues solid guidance:
    ==> shares lower • 4:34 PM

     

    What a contradiction!!! and today is falling 1.5%...
    29 Oct 2013, 03:28 PM Reply Like
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