Apple profit rises

Thread view:

Enable EMail Alerts

Start New Thread

Thread rating:

Ron - 23 Apr 2008 21:54 GMT

http://news.yahoo.com/s/nm/20080423/bs_nm/apple_results_dc

SAN FRANCISCO (Reuters) - Apple Inc (AAPL.O) on Wednesday posted a 36
percent rise in quarterly profit, helped by strong sales of its
Macintosh computers and iPod media players.
ADVERTISEMENT

The company, known for conservative financial forecasts, also gave a
profit outlook for its current quarter that was below Wall Street
estimates, saying it expected earnings of $1.00 per share on revenue
of $7.2 billion.

Net profit for its fiscal second quarter was $1.05 billion, or $1.16
per share, compared with $770 million, or 87 cents per share, a year
ago. Revenue was $7.51 billion, up 43 percent from $5.26 billion a
year earlier.

Apple had been expected to show revenue of $6.95 billion, with
earnings after special items of $1.07 per share, according to Reuters
Estimates.

The company said it sold 2.29 million Mac computers, 10.6 million
iPods and 1.7 million iPhones in the quarter.

(Reporting by Scott Hillis; Editing by Braden Reddall)

Reply to this Message

Larry - 23 Apr 2008 22:24 GMT

> The company said it sold 2.29 million Mac computers, 10.6 million
> iPods and 1.7 million iPhones in the quarter.

Then, it promptly sh.t on its investor's stock price telling everyone it
was going to have a disappointing next quarter, causing its stock price to
start diving as soon as the market closed.

Closed at $162.89
Now at 5:22 at $158.80 and still diving.....in heavy selling.

http://www.reuters.com/article/marketsNews/idINN2343217820080423?rpc=44

http://money.cnn.com/2008/04/23/technology/Apple_earnings/index.htm?
source=yahoo_quote

Nothing like shooting your mother in the foot....

Reply to this Message

Ron - 24 Apr 2008 00:42 GMT

>> The company said it sold 2.29 million Mac computers, 10.6 million
>> iPods and 1.7 million iPhones in the quarter.
[quoted text clipped - 12 lines]
>
>Nothing like shooting your mother in the foot....

Apple is always overly conservative in its forward looking projections
(One just about has to after Sarbanes-Oxley). Just makes for an
excellent buying opportunity pre iPhone 2 which will be sold in
Australia and Japan, where the original iPhone wasn't making sales of
10 million this year a shoe in.

Reply to this Message

Larry - 24 Apr 2008 01:11 GMT

> Apple is always overly conservative in its forward looking projections

What gets me is you'd think the professional investors would know how
conservative its estimates are and ignore these gloomy outlooks, but they
don't. As soon as he opened his mouth, the stock tanked...not seriously
like January, but it still took a dive while it was nicely on its way back
up.

When it dove from $200 to $120 in January, I'm sure lots of AAPL investors
didn't sleep well. Man, that's some serious loss of equity.

Reply to this Message

Ron - 24 Apr 2008 02:49 GMT

>> Apple is always overly conservative in its forward looking projections
>
[quoted text clipped - 6 lines]
>When it dove from $200 to $120 in January, I'm sure lots of AAPL investors
>didn't sleep well. Man, that's some serious loss of equity.

Well its around $160 today, and still likely to jump up when iPhone 2
is announced.

Reply to this Message

Larry - 24 Apr 2008 03:31 GMT

>>> Apple is always overly conservative in its forward looking
>>> projections
[quoted text clipped - 10 lines]
> Well its around $160 today, and still likely to jump up when iPhone 2
> is announced.

I never figured out why it tanked so bad in the first place! Was Christmas
2007 sales that bad?

Reply to this Message

Ron - 24 Apr 2008 13:02 GMT

>>>> Apple is always overly conservative in its forward looking
>>>> projections
[quoted text clipped - 13 lines]
>I never figured out why it tanked so bad in the first place! Was Christmas
>2007 sales that bad?

No, people forgot that Calendar Q1, Apple Q2 sales are lower, and over
reacted to Apples projections.

Apple stock will hit 200 later this year and not see $120 again unless
there's a stock split this fall.

Reply to this Message

Ron - 24 Apr 2008 13:00 GMT

>> The company said it sold 2.29 million Mac computers, 10.6 million
>> iPods and 1.7 million iPhones in the quarter.
[quoted text clipped - 5 lines]
>Closed at $162.89
>Now at 5:22 at $158.80 and still diving.....in heavy selling.

Sorry you needlessly panicked.

At 8: AM EDT time on April 24, 2008, price is 163.0 and still
rebounding.

Reply to this Message