Cook reaffirms Apple's values in Jobs' absence
updated 07:15 pm EST, Wed January 21, 2009
Apple Q1 financial call
In a conference call following Apple's release of its first-quarter financial information, several of Apple's executives elaborated on the company's current strengths and its values in the absence of Steve Jobs. Peter Oppenheimer started off the presentation with a run-through of the record numbers for the company, including overall revenue, iPod sales and net profit. Mac sales showed a nine-percent increase in shipments, despite an overall market contraction. He cited the new iPod nano and Touch as driving strong iPod sales, along with the "amazing breadth and popularity of content on the App Store."
Oppenheimer also referenced strong market-share performance for the iPod, which still holds above 70 percent in the US. Several international locations have seen a surge, with Australia and the UK increasing to 70 percent, while Japan holds 60 percent and Canada marks a 50 percent share.
The company exceeded many analysts' dismal predictions in most areas, with the exception of iPhone sales. The handsets still managed to exceed the 10 million unit goal for the year, reaching a total of over 13.7 million shipments. AdMob data indicates that the devices accounted for 32 percent of worldwide smartphone browser share, and 48 percent in the US. The domestic numbers reportedly exceeded the combined total for RIM, Palm and Windows Mobile platforms.
Apple Retail Stores have also done well, with 251 stores located in ten countries, drawing a total of 46.7 million visitors in the December quarter and generating revenue of $1.74 billion. Half of the computers sold at the stores were purchased by individuals that were new to the Mac platform. The company plans to open 25 more stores, with half located outside of the US.
During the question and answer session, the first person asked about the company's situation without Steve Jobs and its plans if he becomes unable to return to work. He also asked if Tim Cook was anticipating being chosen as the likely successor.
"There is an extraordinary breadth and depth and tenure amongst the executive team, and these executives lead over 35,000 employees that I would call all 'wicked smart,' and that's in all areas of the company, from engineering and marketing to operations and sales and all the rest," said Tim Cook.
"The values of our company are extremely well entrenched ... and frankly we don't settle for anything less than excellence in every group in the company. Regardless of who is in what job, those values are so embedded in this company that Apple will do extremely well," Cook added. "I strongly believe that Apple is doing the best work in its history."
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Anal-ysts
Apparently the sources of information that these analysts make phone calls to are not always on top of it (ever?). These analysts are hair splitters when they write 10.8 million of something sold as opposed to 10.6 million which seemed likely. The difference of 200,000 can be off by less than 2%. To get any closer you would have to be in the rooms where the accountants are working!
Does anyone credible have any faith in these guys which peg Apple stock at a certain price and then start wheeling out concerns about the economy, Job's health, no new Macs, etc.? Look at what Steve has said over the years... their big concern is making great stuff, if it makes money... that's great. It seems THAT philosophy actually works while Wall Street doesn't.