07/21/2008, 4:30pm, EDT
Monday, July 21st
Apple posts $1b profit; sells 2.5m Macs, 11m iPods
Apple on Monday posted revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share for its fiscal 2008 third quarter ended June 28, 2008. In the best June quarter in its history, the company sold almost 2.5 million Macs, or a 41 percent increase from the year-ago quarter and over 11 million iPods. These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter, while international sales accounted for 42 percent of the quarter's revenue.
Apple said it shipped 2,496,000 Macs during the quarter, representing 41 percent unit growth and 43 percent revenue growth over the year-ago quarter. The Company also said it sold 11,011,000 iPods during the quarter, representing 12 percent unit growth and seven percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 717,000 compared to 270,000 in the year-ago-quarter.
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we're busy finishing several more wonderful new products to launch in the coming months."
"We're extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.00."
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as history has shown
wow... another record breaking quarter that beat the analysts expectations. I expect their stocks to tank $10 a share based on this great news - that what usually seems to happen for some odd reason.
Buy on rumor...
sell on news. Makes no sense to me, but that's how it goes. It was down over 5% in after-hours trading this evening. Now, if only I had some money to sink into the stock tomorrow morning, because that's going to probably be the best time to buy it for months to come.
I can see it now...
Apple Reports Best Quarter Ever! Stock Plunges! Investors Worried!
Wow
Now the stock is down 6.45%.... They added 5 billion in cash last quarter and expect an increase in sales over last years Sept quarter....Good reason to trash the stock... I too wish I had money to invest.... Apple is the company to watch for a long time to come.
Apple's Track Record
I know that Apple has a history of making VERY conservative predictions in these reports, but exactly how much do they low-ball? $1/share is way below the street's estimates. Consider that we are heading into the back to school quarter and Apple will have iPhone 3g sales too.
Apple's Track Record
The stock price tank is all about next quarter.
I know that Apple has a history of making VERY conservative predictions in these reports, but exactly how much do they low-ball? $1/share is way below the street's estimates. Consider that we are heading into the back to school quarter and Apple will have iPhone 3g sales too.
But they'd already...
sold on rumor the other day. Apple investors sell on rumor and then sell on news. They even sold on Steve Jobs health. Chicken-livered Apple investors. Does it really matter what the stock price tank cause is? It tanked and that's all there is to it. Apple is healthy, expanding and innovating and in theory it should all pay off before the world implodes. The stock will be back up to $175 in a couple of weeks. Kiss another earnings quarter goodbye. $200 a share or bust by the end of the year.
down below $150
last I checked this evening. Wow, another chance to buy buy buy may come sooner than I thought.
This is nuts. AAPL is easily worth $200 and more, it's one of the few solid performers in an otherwise down economy.
Their own fault
Apple is in MS mode at the moment. Always release low expectations for the next quarter so you can post 'better than expected' earnings and make big news. But the downside of this is that the inst. investors look at those expectations to decide whether to hold a stock. So they sell (why hold if the company is going to have worse sales, which will drive the price down???). Then analysts have to try to figure out what to actually expect, because they are getting no valid information from Apple.
And then a bunch of people who don't own the stock complain because people aren't buying and it isn't at $200 a share. Really, if you don't own the stock, what in the hell do you care what the price is????
stock price
Oh, and you could look at the earnings information, see that they're predicting a 19% drop in earnings from the last quarter to the current one, and go "Hey, if the earnings are going to fall 19%, maybe the price is 19% too high".
So a 10% drop isn't that bad at all.