New From Apple: The iPrintMoney
If there’s been a slowdown in U.S. consumer spending, nobody told Apple. This afternoon, the company reported second-quarter revenue of $7.5 billion on net income of $1.1 billion, or $1.16 per diluted share, pretty much blowing the doors off Wall Street expectations.
Apple (AAPL) shipped 2,289,000 Macs (up 51%), 10,644,000 iPods (up 1%) and 1,703,000 iPhones during the quarter.
“We’re delighted to report … the strongest March quarter revenue and earnings in Apple’s history,” said CEO Steve Jobs, recycling the soundbyte CFO Peter Oppenheimer used to describe the company’s 2007 March quarter.
Clearly, business is good in Cupertino. That said, Apple says it expects fiscal third-quarter earnings of $1 a share on revenue of $7.2 billion–a bit below analyst expectations. And the Street, which by now should be familiar with Apple’s under-promise-and-over-deliver earnings highjinks, isn’t at all happy with that forecast. The company’s shares slipped a bit in after-hours trading.
Comments
Whatever happened to “buy and hold”?
Posted by Dave Barnes at April 23rd, 2008 at 8:34 pmDidn’t some guy named Warren demonstrate that it was/is a good idea?
Apple announces that “we make a bucket full of money” and we “are likely to do it again”, but maybe the “bucket will only be 99% full instead of 110%”.
And, the stock drops.
Ignoring the fact that Apple adds $1G USD to their cash horde every frigging quarter and appears able to perform that trick forever.
Apple has learned to aim low because if they don’t, they’re punished even worse by Wall Street’s equivalent of witch doctors reading the entrails of the sacrificial goat. Only Wall Street is less accurate.
Posted by Eric Welch at April 24th, 2008 at 8:23 am