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Apple profits jump 54% on record sales of 4.9M Macs, 11.2M iPads

post #1 of 129
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Apple said Tuesday that fourth quarter profits rose nearly 54% to $6.62 billion, or $7.05 per diluted share, driven by record sales of more than 11 million iPads and nearly 5 million Macs.

The company posted quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion, or $7.05 per diluted share for the three-month period ending September 24, 2011. The results compare to revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share, in the year-ago quarter.

We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion, said Tim Cook, Apples CEO. Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.

Apple sold 17.07 million iPhones during the quarter as it drew down inventories ahead of this month's iPhone 4S launch, still representing 21 percent unit growth over the year-ago quarter. The Cupertino-based firm also reported new quarterly records for iPad sales at 11.2 million units and Macs at 4.89 million units, an increase of, a 166 percent and 26 percent, respectively.

Apple also sold a record low 6.62 million iPods, a 27 percent unit decline from the year-ago quarter. Gross margin was 40.3 percent compared to 36.9 percent in the year-ago quarter and International sales accounted for 63 percent of the quarters revenue.

We are extremely pleased with our record September quarter revenue and earnings and with cash generation of $5.4 billion during the quarter, said Peter Oppenheimer, Apples CFO. Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30.

Apple will provide live streaming of its Q4 2011 financial results conference call beginning at 2:00 p.m. PDT. AppleInsider will provide full coverage.
post #2 of 129
It is going to get a lot uglier without Steve and more competitive iPhone nowhere near for around a year.
post #3 of 129
...and the stock is down on this news. Meanwhile, Amazon is trading at a P/E ratio of 107, more than 6 times that of AAPL. Do we think that Amazon's profits will be up more than 300% this quarter?
post #4 of 129
love how the headline ignores the big miss (first in 4 years) in expected EPS and iPhone sales.
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post #5 of 129
I think it's really interesting that the stock price is up $50 over where it was before the 4S announcement and nearly $100 higher than it's low point right as the announcement ended. Some people have made a real killing the last 2 weeks
post #6 of 129
Quote:
Originally Posted by thataveragejoe View Post

love how the headline ignores the big miss (first in 4 years) in expected EPS and iPhone sales.

No clue what EPS means, but iPhone sales makes a lot of sense.

Four years of 12 month cycles got people on that kick. Makes sense that the quarter (being three months) after the end of that anticipated cycle saw far fewer iPhone sales as people were waiting for the new one.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #7 of 129
Quote:
Originally Posted by jason98 View Post

It is going to get a lot uglier without Steve and more competitive iPhone nowhere near for around a year.

Maybe you missed the news. Apple just released a new iPhone two weeks ago. It's selling extremely well.
post #8 of 129
Ouch. The crappy global economy has finally reached Apple.
Please don't be insane.
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post #9 of 129
I was pretty surprised reading how optimistic analyst expectations were. Apple had an amazing quarter, it's not their fault about analyst bullshit. They've been investing in so much stuff lately (Data center, aggressive store expansion, iCloud infrastructure, ramping up 4S production, Siri, etc, without any major product launched. Obviously profit will be lower. Even with all that, they managed $8 Billion more revenue than last year. Again, it all depends on perspective, and from almost any angle those numbers are fantastic. Except if you're a clueless analyst. I guess they got so used to Apple smashing their own records every single quarter. Imagine any other company posting these numbers.

Anyway, you'd be an idiot to sell right now.
post #10 of 129
This will rebound quick. Hold strong.
post #11 of 129
There's a technical trader Zimmerman on CNBC claiming Apple is a bubble about to burst. Because his graphs say so. Stock was coming back over 400 until they had him on. He claims the 'religious fervor and bullish sentiment' are the sure signs of a bubble.

I don't know whether to laugh or holler. Apple just can't get it's PE number up. I remember when it was in the 50s.
What is really factored into the price is a kind of perpetual sense of disbelief that any company could be as good as Apple is. ~Retrogusto
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What is really factored into the price is a kind of perpetual sense of disbelief that any company could be as good as Apple is. ~Retrogusto
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post #12 of 129
Quote:
Originally Posted by Slurpy View Post

I was pretty surprised reading how optimistic analyst expectations were. Apple had an amazing quarter, it's not their fault about analyst bullshit. They've been investing in so much stuff lately (Data center, aggressive store expansion, iCloud infrastructure, ramping up 4S production, Siri, etc, without any major product launched. Obviously profit will be lower. Even with all that, they managed $8 Billion more revenue than last year. Again, it all depends on perspective, and from almost any angle those numbers are fantastic. Except if you're a clueless analyst. I guess they got so used to Apple smashing their own records every single quarter. Imagine any other company posting these numbers.

Anyway, you'd be an idiot to sell right now.

You can't sugarcoat this no matter how much you try. It stinks.
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post #13 of 129
Quote:
Originally Posted by Dr Millmoss View Post

Ouch. The crappy global economy has finally reached Apple.

Record Mac sales.
post #14 of 129
Wow, Apple's numbers are quite disappointing. Here's what the analysts were expecting. Apple's numbers are on the low-end of the expectations.

post #15 of 129
The iPhone sales were bound to take a hit, and Apple even hinted at this at their last results as they knew the iPhone 4S would be launching later than the past time frame. This was usually the iPhone launch quarter, but this year it was the fifth quarter with the same model - sales had to slow at some point!

Also, a lot of people have been holding off until the 4S as proven by its launch sales being 200% that of iPhone 4. The fact they still sold 17m is amazing! Expect this quarter to be another recording breaking one with 25m+ iPhones sold.

The higher than expected decline in iPod sales is disappointing. I'd say this is down to the iPod Nano being a bit lacklustre compared to the previous two generations. It's too small for touch!
post #16 of 129
Quote:
Originally Posted by Dr Millmoss View Post

You can't sugarcoat this no matter how much you try. It stinks.

Sure is a big money making stink.
post #17 of 129
Great news. Too bad they have become like every other greedy American corporation. Builds their products oversees to save a few dollars and for the regular troops here in the states they give them a 4% raise after a year - still not a livable wage. Let's see some real progress how about start building products back in the US and start paying a living wage.
post #18 of 129
Quote:
Originally Posted by msantti View Post

Record Mac sales.

EPS was lower than the street consensus, and that's the only thing that matters. The first big miss in many years.
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post #19 of 129
Quote:
Originally Posted by filburt View Post

Wow, Apple's numbers are quite disappointing. Here's what the analysts were expecting. Apple's numbers are on the low-end of the expectations.


Analysts are idiots.

And where we're these charts when Apple usually blows out the street estimates.
post #20 of 129
Quote:
Originally Posted by Dr Millmoss View Post

Ouch. The crappy global economy has finally reached Apple.

Yep. All those RECORD SALES are sure an indicator of that.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply
post #21 of 129
Quote:
Originally Posted by msm859 View Post

Great news. Too bad they have become like every other greedy American corporation. Builds their products oversees to save a few dollars and for the regular troops here in the states they give them a 4% raise after a year - still not a livable wage. Let's see some real progress how about start building products back in the US and start paying a living wage.

Would you kindly go screw yourself?

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Proud AAPL stock owner.

 

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post #22 of 129
Quote:
Originally Posted by SSquirrel View Post

I think it's really interesting that the stock price is up $50 over where it was before the 4S announcement and nearly $100 higher than it's low point right as the announcement ended. Some people have made a real killing the last 2 weeks

Long or short, I wondered if there was something almost like a contest out there for the record trade per share, aiming at about $100.

Any pros out there know what's the most anyone ever made on a per share basis on a single stock trade made in the shortest time period?
What is really factored into the price is a kind of perpetual sense of disbelief that any company could be as good as Apple is. ~Retrogusto
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What is really factored into the price is a kind of perpetual sense of disbelief that any company could be as good as Apple is. ~Retrogusto
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post #23 of 129
Quote:
Originally Posted by Retrogusto View Post

...and the stock is down on this news. Meanwhile, Amazon is trading at a P/E ratio of 107, more than 6 times that of AAPL. Do we think that Amazon's profits will be up more than 300% this quarter?

Don't you just love the short whores? These guys are driving it down to cover their positions, riding the coattails of big stake holders taking profits.
post #24 of 129
Quote:
Originally Posted by Tallest Skil View Post

Yep. All those RECORD SALES are sure an indicator of that.

Yes, they are precisely that. If you can't even beat the conservative street consensus for earnings, then that is spelled B-A-D, and it doesn't matter if the company is Apple or GE or Intel or anybody else.
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post #25 of 129
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Originally Posted by mdriftmeyer View Post

Don't you just love the short whores? These guys are driving it down to cover their positions, riding the coattails of big stake holders taking profits.

Someone makes money on both sides of a trade. I have no plans to sell anytime soon... or in the long term, for that matter.

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post #26 of 129
Quote:
Originally Posted by Dr Millmoss View Post

You can't sugarcoat this no matter how much you try. It stinks.

Only Apple could have another record breaking quarter and have morons say it's a disaster...
post #27 of 129
Quote:
Originally Posted by Dr Millmoss View Post

EPS was lower than the street consensus, and that's the only thing that matters. The first big miss in many years.

If you look at the numbers this was strictly an iphone miss.

Record mac and ipads, unsubsidized hardware.

This seems like a clear effect of waiting on the new iphone, not global economy issues.
post #28 of 129
Quote:
Originally Posted by Jcoz View Post

If you look at the numbers this was strictly an iphone miss.

Record mac and ipads, unsubsidized hardware.

This seems like a clear effect of waiting on the new iphone, not global economy issues.

You'll find your enjoyment of the site increases exponentially by blocking certain posters. The "Dr." made it early to my blocked list.

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post #29 of 129
Quote:
Originally Posted by Jcoz View Post

If you look at the numbers this was strictly an iphone miss.

Record mac and ipads, unsubsidized hardware.

This seems like a clear effect of waiting on the new iphone, not global economy issues.

Not only that. look at the numbers going forward. Looks like an excellent holiday season.
post #30 of 129
Quote:
Originally Posted by macnyc View Post

Only Apple could have another record breaking quarter and have morons say it's a disaster...

Sorry, but the investors out there know what this is: a miss on earnings. A miss is a miss, and it's never good.

Quote:
Originally Posted by Jcoz View Post

If you look at the numbers this was strictly an iphone miss.

Record mac and ipads, unsubsidized hardware.

This seems like a clear effect of waiting on the new iphone, not global economy issues.

We'll see what comes out of the conference call in the way of explanation. I'm sure the question will be asked, but I would not expect a clear answer. But as I said in another thread, iPhone sales will be the number to watch. It came in low. So there you have it.
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post #31 of 129
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Originally Posted by SpamSandwich View Post

You'll find your enjoyment of the site increases exponentially by blocking certain posters. The "Dr." made it early to my blocked list.

Yeah, some people do like to plug their ears when they hear stuff that doesn't work for them. Tell me something I don't know.
Please don't be insane.
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post #32 of 129
Quote:
Originally Posted by filburt View Post

Wow, Apple's numbers are quite disappointing. Here's what the analysts were expecting. Apple's numbers are on the low-end of the expectations.


Take those expectations and shove deep and hard.

The guidance they were given was $25 Billion for the quarter. They crushed their guidance. This is a short-seller scam and if anyone cannot see this they either are making a killing on it or too dense to figure it out.

You don't crush your year over year results and call it a disappointment, unless you're betting it to go down.

Not oddly, Morgan Stanley was one of the more bearish estimators and their target was under $27 Billion.
post #33 of 129
Maybe the street should have listened to Apple when they said last quarter they're predicting a 'conservative' quarter?

I fail to see how a company that increased profits by 50% in a double dip recession which has written off countless major companies, is rubbish performance?

Were Wall Street banking on Apple single handedly paying of America's debts or something?
post #34 of 129
Quote:
Originally Posted by macnyc View Post

Not only that. look at the numbers going forward. Looks like an excellent holiday season.

I agree. Its unfortunate because I intended to sell my Apr calls after the announcement, because no matter what the stock is going to go down more in Nov and Dec before what will absolutely, without question, be Apple best quarter in the history of the company.

But that was just me being greedy I guess. I'll be sticking it out now until Jan, and I will have had an very good year in the market thanks to Apple.
post #35 of 129
Quote:
Originally Posted by Dr Millmoss View Post

EPS was lower than the street consensus, and that's the only thing that matters. The first big miss in many years.

From a strategic standpoint, I'm much more interested in gross margin, which came in at 40.3%. That's still a top-tier number and shows the operating side continues well under control.

If anybody has bothered to look at the company's revenue and EPS forecast for the coming holiday quarter, it's going to be a barn-burner, even considering it will span 14 weeks rather than 13. Look for a selloff in the short-term and a great buying opportunity.

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post #36 of 129
Quote:
Originally Posted by haydn! View Post

Maybe the street should have listened to Apple when they said last quarter they're predicting a 'conservative' quarter?

I fail to see how a company that increased profits by 50% in a double dip recession which has written off countless major companies, is rubbish performance?

Were Wall Street banking on Apple single handedly paying of America's debts or something?

Correct. Then again, Wall Street doesn't have their gonads in a vice yet when it comes to enforcing regulations and manipulating stocks.

As pointing out earlier, that $100 differential sure has made some people quick and dirty money, all due to triggers.
post #37 of 129
Quote:
Originally Posted by Dr Millmoss View Post

You can't sugarcoat this no matter how much you try. It stinks.

I was stating facts, not sugarcoating anything. I'm having a very hard time seeing how this 'stinks' if you're looking at anything else besides analyst 'expectations'. Do they realize Apple didn't launch a new phone last quarter, as they always do? If they did, numbers would have blown away all fucking expectations. The December quarter will be insane. These analysts slobbered over themselves with expectations that weren't realistic at all, yet Apple is supposed to magically exceed whatever the hell they come up with? Right. They had $8 Billion more revenue than last year. That's perspective.
post #38 of 129
Quote:
Originally Posted by Kibitzer View Post

From a strategic standpoint, I'm much more interested in gross margin, which came in at 40.3%. That's still a top-tier number and shows the operating side continues well under control.

If anybody has bothered to look at the company's revenue and EPS forecast for the coming holiday quarter, it's going to be a barn-burner, even considering it will span 14 weeks rather than 13. Look for a selloff in the short-term and a great buying opportunity.

They've already sold 25% of last quarter's iPhone sales, in 3 days. When the role out to all countries happens these numbers explain the reason they've already targeted $37 Billion.

I expect Wall Street to try and not test the SEC again and target around $38 Billion, instead of something as absurd as $42 Billion and then when $40 Billion comes out drive the stock down again.
post #39 of 129
Quote:
Originally Posted by Kibitzer View Post

From a strategic standpoint, I'm much more interested in gross margin, which came in at 40.3%. That's still a top-tier number and shows the operating side continues well under control.

If anybody has bothered to look at the company's revenue and EPS forecast for the coming holiday quarter, it's going to be a barn-burner, even considering it will span 14 weeks rather than 13. Look for a selloff in the short-term and a great buying opportunity.

I agree. Typical market overreaction that will be forgotten in a week or two. Hilarious stupidity on parade.

Proud AAPL stock owner.

 

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Proud AAPL stock owner.

 

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post #40 of 129
Quote:
Originally Posted by Dr Millmoss View Post

Sorry, but the investors out there know what this is: a miss on earnings. A miss is a miss, and it's never good.



We'll see what comes out of the conference call in the way of explanation. I'm sure the question will be asked, but I would not expect a clear answer. But as I said in another thread, iPhone sales will be the number to watch. It came in low. So there you have it.

What explanation do you expect from them? What numbers in particular do you need to draw a conclusion, given that you already know they've sold 4M iphones in the last week not counting 3GS or 4's sold?

Your conclusion that its global economy hitting apple doesn't make a lick of sense with the numbers you've already got.
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