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AAPL Stock: 102.64 ( + 1.58 )

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Apple doubles iPhones in record quarter, "major new product"

updated 05:10 pm EST, Mon January 25, 2010

Acknowledges 'major new product' this week

Apple has released the results of its first fiscal quarter for 2010, which ended on December 26th. The company is claiming $15.68 billion in revenue, with a net profit of $3.38 billion, or $3.67 per diluted share; the figures represent a sizable growth over Q1 2009, which generated $11.88 billion in revenue, $2.26 billion in profit, and an EPS of $2.50. Gross margin has also increased from 37.9 percent to an unusually high 40.9 percent.

Mac sales are likewise elevated at 3.36 million, making for a growth of 33 percent year-over-year. iPhone sales are up 100 percent to 8.7 million, whereas iPods are down 8 percent to 21 million.

Owing to new accounting rules recognizing the iPhone and Apple TV, if quarterly revenue is annualized, Apple is now a "$50+ billion company." CFO Peter Oppenheimer adds that the business accumulated $5.8 billion in cash from the quarter, and expects Q2 revenue to be between $11 billion and $11.4 billion, with EPS ranging between $2.06 and $2.18.

CEO Steve Jobs has also taken the step of admitting that Apple will reveal a "major new product" this week, the focus of a January 27th press event. Most analysts and media outlets now believe that it will be a tablet, years in development.




by MacNN Staff

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  1. testudo

    Joined: Dec 1969

    -11

    uh-oh

    You know what this means! Time for MacNN folks to declare investors idiots because the stock price goes down!

  1. Peter Bonte

    Joined: Dec 1969

    -2

    Stunning

    These figures are almost like Microsoft's but with them going down and Apple way up, incredible. If we count the upcoming Tablet as a netbook-PC (as it should) then Apple may well take a lead over PC's in the US.
    And at the same time rule the digital media business, that is way to much power for one company but at the moment i don't care.

  1. ff11

    Joined: Dec 1969

    +3

    re: stunning

    There are A LOT of netbook-PCs (and non-netbook-PCs) on the market. If Apple does release a tablet, and if it is classified as a netbook-PC, it is stilly extremely unlikely to take a lead over PCs in the US in the forseeable future.

  1. iphonerulez

    Joined: Dec 1969

    0

    Andy Zaky...

    Wall Street will eventually understand the impact of accounting change and will send Apple share price to the moon. Guess what? WS didn't give a damn about accounting change or Apple's spectacular results. Sent share price up a massive $2 after hours. How's that for a wild ride.

  1. chas_m

    Moderator

    Joined: Dec 1969

    +5

    And yet ...

    Although AAPL is up a bit today, it is still way down from a week ago, when it was at $215.

    So yes, Trolltudo, the stock went up on speculation, and down on actual news. Again.

    PS. Your reading comprehension skills really are quite poor -- ANALYSTS take a routine lambasting in this forum (quite correctly) for their poor predicting skills (cuz that's only their JOB!), but I haven't seen any general labelling of AAPL investors as idiots. Unless you're an investor.

  1. Peter Bonte

    Joined: Dec 1969

    -2

    re: stunning

    Every quarter there about 20 million PC sales in the US, with currently up to 3 million netbooks running either windows or android. A successful tablet could add 3 million units and provide Apple with a 20-25% market share, mathematically not that unlikely.

  1. LouZer

    Joined: Dec 1969

    +1

    Re: stunning

    These figures are almost like Microsoft's but with them going down and Apple way up, incredible. If we count the upcoming Tablet as a netbook-PC (as it should) then Apple may well take a lead over PC's in the US.

    how can you say it should be called a betbook when no one even knows what it's capabilities are? A large iPod touch is not a netbook.

  1. LouZer

    Joined: Dec 1969

    -2

    Re: Andy zaky

    Wall Street will eventually understand the impact of accounting change and will send Apple share price to the moon.
    .


    Um, I would guess that wall street understands the accounting change a lot more than you do. In fact, they were already ignoring "subscribed" revenue when apple started doing it. Why else do you think apple always reported their non subscribed results when they did earnings for the past years?

  1. testudo

    Joined: Dec 1969

    -1

    Re: and yet

    PS. Your reading comprehension skills really are quite poor -- ANALYSTS take a routine lambasting in this forum (quite correctly) for their poor predicting skills (cuz that's only their JOB!), but I haven't seen any general labelling of AAPL investors as idiots. Unless you're an investor.

    No, you need to go back to look at the comments on the results from various quarters. Because they all contain the same thing. "What idiots! They announce record profits and the price isn't going through the roof!"

    And, sorry to disappoint you, but I am an investor in Apple computer. A whopping 700+ shares or something like that.

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