SAN JOSE, California (AP) — Apple Inc.'s fiscal second quarter was another blow-out, with results that easily surpassed Wall Street's expectations, but it wasn't enough for investors to warm up to the company's stock any further.

Results came out after the market closed and Apple shares fell $1.68, about one percent, to $161.21 at the open of trade yesterday.

While Apple's sales jumped 43 percent and profits rose 36 percent, higher than analyst estimates, lower-than-expected guidance for the third quarter held the stock down.

Apple shares are trading well below their 52-week high of $202.96 set in December. Worried that economic distress is pinching consumers' ability to pay for Apple's premium-priced products, investors lopped off 40 percent from the stock's value in January and February, though it has rebounded considerably since then.

Apple is considered especially vulnerable to slower domestic consumer spending because of its stronger presence in the US than overseas, and because its computers and gadgets typically carry higher price tags than competing products.

Investors decided that they still need to take a cautious approach toward a company known for its conservative guidance but also heavily weighted toward the US market, which is rife with turbulence stemming from the crisis in the credit and housing markets.

"The stock was all over the place, but I thought it was a great quarter," said Jane Snorek, senior technology stocks analyst at First American Funds.

"The most important part is that the Apple consumer seems to be immune to economic weakness," she said. "This is a very US-centric story. The guidance could have been horrendous. They could have said they were seeing pricing pressure, or the stores weren't doing well. But I see it as, I'm perfectly safe buying the stock now."

Investors were worried that Apple's gross profit margin — a key measure of how well a company controls manufacturing costs and pricing — came in below what many on Wall Street were expecting, despite Apple beating the net income estimate.

Apple's gross profit margin was 32.9 percent of revenues, better than the company's guidance but below the 35.1 percent in the year-ago period.

Investors were also concerned because Apple's third-quarter profit guidance of $1 per share is below the $1.10 per share that analysts surveyed by Thomson Financial were expecting. The expected sales of $7.2 billion, however, would be slightly higher than Wall Street's average forecast of $7.16 billion.

Apple has traditionally issued conservative financial forecasts, and its US sales were particularly strong in the latest quarter, rising 40 percent over last year. So many investors were left scratching their heads about how to interpret Apple's outlook.