Wow, what a bargain…they only lost about 10 billion.
I’m sure the stock is up, because…Google.
Edit for a classic Gruber:
I bet it would take longer to literally flush $9.5 billion in cash down a toilet than it took for Google to do so figuratively on the Motorola acquisition.
Courtesy of Apple 2.0:
Colin Gillis, BCG: Haiku: The cracks are starting to show in the iPhone sales, as the market shifts.
Toni Sacconaghi, Bernstein Research: Big iPhone Miss Points to High-End Market Saturation.
Steven Milunovich, UBS: iPhone Worm in the Apple.
Mark Moskowitz, J.P. Morgan: Not Again: iPhone Stumbles into another New Year; We Maintain OW even as Air Pockets Persist.
Ittai Kidron, Oppenheimer: Cycle Exhausted; Downgrading to Perform.
Bill Shope, Goldman Sachs: Muted guidance a hefty setback, but opportunity persists.
Charlie Wolf, Needham: iPhone sales come up short.
Gene Munster, Piper Jaffray: Underlying iPhone Growth Core Question, But 2014 Product Cycle Theme Intact.
Glen Yeung, Citi: iPhone disappoints again.
Kulbinder Garcha, Credit Suisse: Growth Challenges.
Brian White, Cantor Fitzgerald. Down but not out.
Scott Craig, Merrill Lynch: iPhone disappointment driving sentiment and valuation shift.
Amit Daryanani, RBC: Searching for Revenue Growth.
Andy Perkins, Societe Generale: Disappointing iPhone unit sales but some positives all the same.
William Power, Baird: Disappointing FQ1; New Products to the Rescue?
Stuart Jeffrey, Nomura: Weak Growth May Force Increase in Buybacks.
Maynard Um, Wells Fargo: Bottom line.
Avi Silver, CLSA: Deja vu all over again.
Michael Walkley, Canaccord Genuity: Solid results with healthy margin gain, but softer iPhone sales impact guidance.
Ben Reitzes, Barclays. Larger Screens & New Categories Needed to Revive Growth.
So, Apple must have had a pretty dismal quarter, right? I mean look at those guys’ quotes!
Apple reported record earnings of $14.50 per share on sales of $57.6 billion Monday — beating both its and Wall Street’s expectations.
51 million iPhones in sold.
26 million iPads sold.
4,8 million Macs sold.
6 million iPods sold.
In. One. Quarter.
Oh yeah, 160 BILLION in cash. Clearly doomed.
I guess it’s not a hobby anymore.
Apple sold around 6 million iPods in Q1FY14. Although sales picked up, compared to Q4FY13, they dropped compared to the year ago quarter.
Just short of a billion dollars. That’s how “little” the iPod contributed to Apple’s revenue of $57.6 billion in Q1FY14. That’s a lot of money, and most companies would probably be happy with just the iPod business, but this is Apple.
So, will they drop the item that arguably turn the companies’ fortune around in 2001?
I don’t think so, at least not yet.
Apple hasn’t been afraid of cannibalizing their own products, which is what they did with the iPod when the iPhone was introduced in 2007, and to a lesser extent the iPad in 2010, so I think the iPod is dying – it’s just that Apple will not can in now.
Call it sentimental, but I think the iPod will be around for another few years.
Apple on Monday announced its earnings for the company’s first fiscal quarter of 2014, netting $13.1 billion in profit on $57.6 billion in revenue, driven by sales of 51 million iPhones and 26 million iPads — the most ever sold in a single quarter.
4,8 million Macs, earnings of $14.50 per diluted share, gross margin of 37.9 percent, $158.8 billion in cash, iPhone controls 59 percent of U.S. commercial smartphone market, iPad has a 78% share of U.S. commercial tablet market. iOS 7 is now on over 80% of all iDevices.
This is Apple’s best quarter ever.
Of course Apple stock is down 6%, because….Apple.
Today, 30 years ago, Steve Jobs introduced Macintosh to the world.
What a ride.