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Apple profits soar 77% on record sales of 3.47 million Macs

post #1 of 110
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Apple said Tuesday that third-quarter profits rose more than 77 percent to $3.25 billion, or $3.51 per diluted share, on sales of $15.7 billion for the three-month period ended June 26, 2010.

The results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter's revenue.

Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple also sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. Â*Meanwhile, iPad sales totaled of 3.27 million.

"It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4," said Steve Jobs, Apple's CEO. "iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."

"We're really pleased to have generated over $4 billion of cash during the quarter," added Peter Oppenheimer, Apple's CFO. Â*"Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44" Â*

Apple will provide live streaming of its Q3 2010 financial results conference call beginning at 2:00 p.m. PDT on July 20, 2010. AppleInsider will provide full coverage.
post #2 of 110
The lower EPS guidance despite much higher ($18B) revenue guidance for the next quarter is very interesting. Is this because of new products with lower margins on the horizon or projected price cuts on existing products?

Looks like AAPL is getting ready for their first $20B+ quarter later this year...
post #3 of 110
Quote:
Originally Posted by macshark View Post

The lower EPS guidance despite much higher ($18B) revenue guidance for the next quarter is very interesting. Is this because of new products with lower margins on the horizon or projected price cuts on existing products?

Looks like AAPL is getting ready for their first $20B+ quarter later this year...

You can't place any importance in forward guidance. It is always a low-ball joke. Just enjoy the current numbers.
post #4 of 110
Quote:
Originally Posted by AppleInsider View Post

"and we have amazing new products still to come this year."

God, this tidbit gets me even more excited.

Haters wrong yet again.
post #5 of 110
oh-no! apple is doomed!
post #6 of 110
Whew. Unbelievable. The rest of tech is simply left scratching its collective head and wondering where this runaway train is headed next.

Go Apple!
post #7 of 110
Quote:
Originally Posted by Postulant View Post

God, this tidbit gets me even more excited.

Haters wrong yet again.

iPod touch with a camera or two?
post #8 of 110
Quote:
Originally Posted by mac_dog View Post

oh-no! apple is doomed!

There. Fixed it for you.
post #9 of 110
Quote:
Originally Posted by Postulant View Post

God, this tidbit gets me even more excited.

Haters wrong yet again.

I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.
post #10 of 110
Quote:
Originally Posted by depannist View Post

I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.

I dunno, I'm expecting at least one new product category and a slew of older products with new hardware specs.
post #11 of 110
Quote:
Originally Posted by macshark View Post

The lower EPS guidance despite much higher ($18B) revenue guidance for the next quarter is very interesting. Is this because of new products with lower margins on the horizon or projected price cuts on existing products?

Looks like AAPL is getting ready for their first $20B+ quarter later this year...

They have been guiding down margins for a long time, but one of these days I expect it to be serious. It would take a dramatic change in product mix for the margins to get that much lower though-- like a $100 drop in ASP for iPhones to around $500.
post #12 of 110
Congress took a break from considering other legislation today to pass a bill prohibiting patent trolls, the media, technoblog pundits, or deathgripping idiots from picking on Apple any more. "It's about the only gawdsdamned part of the US economy which is still working, and it's our job to protect that," said Congressman McNotsteve. "Jobs is our number one priority," added an aide, smugly.
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post #13 of 110
Quote:
Originally Posted by depannist View Post

I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.

of course new version of existing products.
It's pretty rare Apple would launch 2 new products a year.
in fact don't expect a totally new product (like iPad) for a year or two.
post #14 of 110
Hooray! Higher please AAPL. I have a wedding to shell out for this year.
post #15 of 110
From Apple's Press Release - Steve Jobs "we have amazing new products still to come this year".
Go AAPL
post #16 of 110
How do I link into the Apple conference from Appleinsider?
post #17 of 110
This is a SAD SAD DAY for all the HATERS.
post #18 of 110
Quote:
Originally Posted by anantksundaram View Post

Whew. Unbelievable. The rest of tech is simply left scratching its collective head and wondering where this runaway train is headed next.

Go Apple!

the more apple sells, the faster internet is needed, and the more advanced equipments are needed. this is definitely bearing good for many tech companies. this is simply amazing.
post #19 of 110
Quote:
Originally Posted by AppleInsider View Post

"we have amazing new products still to come this year."

New iPod Touch
New Apple TV

What else?
- New (smaller, lighter, thinner) MacBook Air?
- Will the new MacPro wait until Jan'11
- An incremental update to iMac?
- Smaller, lower cost iPad variant?
post #20 of 110
It is always more that analysts predict on Mac units sold. That's not as many iPads as I thought would be sold and it looks like sales of iPhone slowed down prior to the iPhone 4 launch (no surprise).
post #21 of 110
Good, but not great. FWIW, Andy Zacky's predictions were high across the board. The markets may see this as a miss, not a hit.
Please don't be insane.
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Please don't be insane.
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post #22 of 110
Why is it despite Mac sales figures going up in leaps each quarter, Mac market share on

http://marketshare.hitslink.com/os-m...e.aspx?qprid=9

has barely moved over the past 12 months. Why is use of Macs not surging like Google Chrome?
post #23 of 110
Quote:
Originally Posted by Dr Millmoss View Post

Good, but not great. FWIW, Andy Zacky's predictions were high across the board. The markets may see this as a miss, not a hit.

overall the market seems to be happy, up 3%.
Pretty much in line with "Good but not great".

At least it didn't fell off a cliff like goog.
post #24 of 110
Quote:
Originally Posted by bluedalmatian View Post

Why is it despite Mac sales figures going up in leaps each quarter, Mac market share on

http://marketshare.hitslink.com/os-m...e.aspx?qprid=9

has barely moved over the past 12 months. Why is use of Macs not surging like Google Chrome?

Unlike Google Chrome, Macs are not free...

post #25 of 110
100 million iOS devices - Amazing!
post #26 of 110
Amazing numbers.

Quote:
Originally Posted by macshark View Post

New iPod Touch
New Apple TV

What else?
- New (smaller, lighter, thinner) MacBook Air?
- Will the new MacPro wait until Jan'11
- An incremental update to iMac?
- Smaller, lower cost iPad variant?

I would like to see AppleTV with FaceTime. Don't ask me how they can do it though.
post #27 of 110
Quote:
Originally Posted by macshark View Post

Unlike Google Chrome, Macs are not free...


True, but that would only work if Macs weren't selling. But if sales are surging I would have expected the % usage share to surge too. Unless loads of people are buying Macs and not using them
post #28 of 110
Quote:
Originally Posted by bluedalmatian View Post

True, but that would only work if Macs weren't selling. But if sales are surging I would have expected the % usage share to surge too. Unless loads of people are buying Macs and not using them

The numbers that were linked to include all OSs, mobile and traditional, in one big pot. Apple sells more iOs than Mac OS, so that alone would, I think (didn't spend a lot of time looking at their numbers), keep their Mac OS numbers down in that presentation. And, I didn't see individual numbers for Chrome there.
post #29 of 110
So now can we get a dividend? Just a little one? Please?

-- an Apple stockholder
post #30 of 110
Quote:
Originally Posted by macshark View Post

New iPod Touch
New Apple TV

What else?
- New (smaller, lighter, thinner) MacBook Air?
- Will the new MacPro wait until Jan'11
- An incremental update to iMac?
- Smaller, lower cost iPad variant?

: You are realistic, wise move.
post #31 of 110
Quote:
Originally Posted by Windsor Smith View Post

So now can we get a dividend? Just a little one? Please?

-- an Apple stockholder

No. I don't want dividends. Dividends are for utilities and staid old fossils like MSFT. Apple is a technology leader that needs to continue growing. I like the $40B in the bank. I love its price appreciation.

MSFT responded to demands for dividends, and pays, what, 3¢ a share (correction: 13¢.... big deal). Its share price has been flat ever since (of course, being a has-been of a company is a factor too).

No dividends.
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post #32 of 110
Wasn't the iPad supposed to cannibalize the Macintosh? No wait, the iPad is supposed to be a dud.
post #33 of 110
Quote:
Originally Posted by NasserAE View Post

Amazing numbers.



I would like to see AppleTV with FaceTime. Don't ask me how they can do it though.

As Gruber wrote FaceTime can free us all from the chains of providers of fixed telephony service, at least.
post #34 of 110
Quote:
Originally Posted by john galt View Post

No. I don't want dividends. Dividends are for utilities and staid old fossils like MSFT. Apple is a technology leader that needs to continue growing. I like the $40B in the bank. I love its price appreciation.

MSFT responded to demands for dividends, and pays, what, 3¢ a share. Its share price has been flat ever since (of course, being a has-been of a company is a factor too).

No dividends.

Agree wholeheartedly.
post #35 of 110
Yet Leo Laporte and Co. keeps saying, "Apple doesn't care about Macs.", "Apple will replace OS X with iOS". To say this is to not know Apple and they should get someone else to host the show, for krists sakes.

Andy Inhanko keeps correcting them but they don't frikkin learn.
2011 13" 2.3 MBP, 2006 15" 2.16 MBP, iPhone 4, iPod Shuffle, AEBS, AppleTV2 with XBMC.
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2011 13" 2.3 MBP, 2006 15" 2.16 MBP, iPhone 4, iPod Shuffle, AEBS, AppleTV2 with XBMC.
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post #36 of 110
Quote:
Originally Posted by john galt View Post

No. I don't want dividends. Dividends are for utilities and staid old fossils like MSFT. Apple is a technology leader that needs to continue growing. I like the $40B in the bank. I love its price appreciation.

MSFT responded to demands for dividends, and pays, what, 3¢ a share (correction: 13¢.... big deal). Its share price has been flat ever since (of course, being a has-been of a company is a factor too).

No dividends.

Such utter nonsense. Dividends are for companies throwing off more cash than they could realistically reinvest in expanding their business, a situation which perfectly describes Apple. The comparison to Microsoft is useless.
Please don't be insane.
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Please don't be insane.
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post #37 of 110
"Apple now has $45.8 billion dollars in cash. That's a lot of cash -- up $4.1 billion from last quarter."
post #38 of 110
Quote:
Originally Posted by Postulant View Post

"Apple now has $45.8 billion dollars in cash. That's a lot of cash -- up $4.1 billion from last quarter."

They've been building cash reserves at a rate of over $1b a month for several years now. Some seem to think it would be virtually criminal for Apple to give even some small fraction of that growing cash hoard back to the stockholders. Beats me why.
Please don't be insane.
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Please don't be insane.
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post #39 of 110
Quote:
Originally Posted by Dr Millmoss View Post

Such utter nonsense.

You vote your shares, Dr. I'll vote mine.

I'll win.
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post #40 of 110
Quote:
Originally Posted by Postulant View Post

"Apple now has $45.8 billion dollars in cash. That's a lot of cash -- up $4.1 billion from last quarter."

'

Isn't it kind of ironic to see AAPL in a position where they can buy Nokia for cash?
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