APPLE RISING! Ping!
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Posted on 01/25/2010 3:20:28 PM PST by Swordmaker
"Apple Inc. rocketed to its most profitable quarter ever over the holidays, as huge sales of the iPhone and Macintosh computers led to a nearly 50 percent jump in net income," Jordan Robertson reports for The Associated Press.
"Apple also offered a profit and revenue forecast above Wall Street forecasts," Robertson reports. "Apple said Monday it earned $3.4 billion, or $3.67 per share, in the latest quarter, which ended Dec. 26. In the same period of 2008, had the same accounting standards been in place, it would have had net income of $2.3 billion, or $2.50 per share. Revenue was $15.7 billion, a 32 percent jump from $11.9 billion in the same period last year."
Robertson reports, "Apple said it expects the current quarter, the second in its fiscal year, to yield earnings of $2.06 to $2.18 per share, with revenue of $11.0 billion to $11.4 billion. Analysts had been predicting profit of $1.77 per share and revenue of $10.4 billion in the current quarter, according to Thomson Reuters."
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Stock market halted bidding on APPLE stock late this afternoon
May be an indicator of disorderly trade volume interest
Imbalance ...
they changed their accounting method for subscriptions...hence the huge number.
Apple should be up huge.
But if it isn’t, it is a clear signal that the market as a whole has alot further to go down...the correction everybody has been calling for, could be here.
http://www.marketwatch.com/story/apples-upside-comes-from-accounting-shift-2010-01-25?dist=afterbell
more info here
The Conference Call for the announcement of the 1st Fiscal Quarter 2010 (September 26 - December 26, 2009) results was scheduled to start a half hour after close of trading...
Excuse me but weren’t the Apple haters gleefully predicting that Apple’s gravy train would end with the recession. People wouldn’t choose to purchase Apple products because they “cost more”. Guess the prognosticators were wrong..as usual.
Waiting for the liberals and Mac-o-phytes to start screaming about Apple’s obscene profit margin.
Yes, they were... but Apple has posted bigger and better quarters every quarter, and year over year gains each quarter since the recession/depression began... and double digit gains despite products that sell in the upper tiers of their respective markets... because people appreciate quality.
Finally they’ve peaked, and are now doomed. /sarc
I'm sure DennisW will be here shortly with his name-calling about the "Jesse Jobs Gang" and how Apple is doomed (DOOMED!) because really no one buys Macs or other Apple products. Right? I mean, those sales numbers mean nothing. NOTHING!
3...2...1... ;-)
How does it feel to be ripped off? A stooge?
Millions of overcharged dupes and stooges made for that bottom line. For some it’s a badge of honor to be robbed by the JesseJobs gang. They stay with the Cuppertino gangstas the way an abused wife often sticks with her husband or baby daddy
Thanks, man. I knew I could count on ya. :)
FWIW, I buy Apple hardware when it makes sense (best value to meet a particular need). I've also got HP hardware, Compaq, Dell, you name it. And a couple of small brands you've never heard of.
I don't consider myself overcharged -- unless I become disappointed in the hardware later on. So far the Apple stuff has given at least as good value over time as any of the other hardware, and sometimes better.
My motto: Buy what makes sense for the task at hand, and don't buy shit regardless of how cheap it is. There's just no way to pick up a turd by the "clean end".
The previous year's numbers were adjusted to reflect the change in accounting rules as well as this year's quarter's... the increases are real.
:’) I’m kinda surprised (always) that higher profits (and better products) are considered some kind of thought crime by various alleged conservatives, and not just on FR.
Different strokes. Some people will just always choose products based on lower initial purchase price, even when it's demonstrably the poorer bargain over the life of the product.
When they see people making the more intelligent choice of paying a little more initially and avoiding higher costs afterward, they feel threatened. So they lash out.
Ah, well, human nature, I suppose.
In the case of Apple, it seems they develop a grinding hatred of the company too. Some sort of envy, maybe; I don't really know. But as you say, it blinds them to the fact that Apple is a perfect example of capitalism succeeding against the economic odds.
The bottom line is that Apple is returning exceedingly good value on their stockholders' investments. That's what they're supposed to be doing. And Steve Jobs, for all his groovier-than-thou aspect and turtleneck sweaters, is doing exactly what he's supposed to be doing for the stockholders.
Any so-called conservative who can't see that, and feel good about a capitalist success story, is just blinded by stupid hatred.
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