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Apple projects all-time high $37 billion holiday quarter

post #1 of 19
Thread Starter 
Apple on Tuesday said it looks to hit $37 billion in revenue for the upcoming holiday quarter, a stunning $10 billion increase year over year, as expecting to set an all-time high with sales of the iPhone 4S.

During a conference call on Tuesday, Apple's Chief Financial officer Peter Oppenheimer, said that he expects the company to earn around $37 billion in the holiday quarter, with diluted earnings per share of about $9.30. The projection is $8 billion more than Q3 2011, the company's previous best quarter ever, and an over $10 billion gain year-to-year.

December is part of the first fiscal quarter of 2012, which will span 14 weeks rather than the usual 13. This is done every six or seven years to align the 52-week, 364-day fiscal year with the 365-day calendar year. Oppenheimer notes that the extra week will have little effect on earnings.

Apple Chief Executive Officer Tim Cook, said that he was thrilled with the strong finish to the 2011 fiscal year, and expects another strong performance in the upcoming quarter. Much of the CEO's optimism is based on the record-breaking sales and high demand for the company's new iPhone 4S handset.

"Customer response to iPhone 4S has been fantastic," Cook said. "We have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline."

Apple sold over 4 million units of the new iPhone model during its opening weekend, a record for initial iPhone sales.

The demand for the 4S has been so high that Apple modified its purchase policy by enacting an online reservation option. Cook, however, reassured during the conference call that there would be a "large supply" of the device available in time for the holidays.
post #2 of 19
Holy crap! $37 Billion in 3 months?!?! Yep, looks like Apple has lost. the iPhone 4S is the fall of Apple.
post #3 of 19
Oh no! Apple is doomed!
post #4 of 19
Apple is toast. I'm switching to Android.

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post #5 of 19
Where can I order my "Apple Is Doomed" t-shirt?

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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post #6 of 19
Quote:
Originally Posted by jd_in_sb View Post

Apple is toast. I'm switching to Android.

Then make sure you get a Samsung device so the new device and UI is still familiar.
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post #7 of 19
$37 billion in revenue
this implies, that in these days of fear of a global recession, apple will be making AT LEAST $405 million a day (they always lowball).
That's a lowball projection of a 37% year over year increase... for the most valuable company in america... that last year increased 52% year over year.

this is stunning.
post #8 of 19
Quote:
Originally Posted by solipsism View Post

Then make sure you get a Samsung device so the new device and UI is still familiar.

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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post #9 of 19
Quote:
Originally Posted by iObserver View Post

$37 billion in revenue
this implies, that in these days of fear of a global recession, apple will be making AT LEAST $405 million a day (they always lowball).
That's a lowball projection of a 37% year over year increase... for the most valuable company in america... that last year increased 52% year over year.

this is stunning.

They are the most valuable publicly owned and traded company in the world.

I still can't get over it. My underdog Apple throughout most of their (and my) history is now the top dog.

It takes a lot of getting used to.

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post #10 of 19
I just wish Apple could figure a way to beat the crooked hedge funds of Wall Street. Apple is so strong it's amazing but there are so many factions out there that are trying to take Apple down or truly believe that Apple as a company will soon fall. I sure hope Steve Jobs told the executive board what to look for in the way of a blockbuster acquisition to modify how Apple is seen as a company. It's really hard to figure why Apple's expectations are so high despite it being the wealthiest tech company by a large margin. I sure wish there was some company Apple could acquire that would give it respectability as a company with long-term staying power.
post #11 of 19
Quote:
Originally Posted by Constable Odo View Post

I just wish Apple could figure a way to beat the crooked hedge funds of Wall Street. Apple is so strong it's amazing but there are so many factions out there that are trying to take Apple down or truly believe that Apple as a company will soon fall. I sure hope Steve Jobs told the executive board what to look for in the way of a blockbuster acquisition to modify how Apple is seen as a company. It's really hard to figure why Apple's expectations are so high despite it being the wealthiest tech company by a large margin. I sure wish there was some company Apple could acquire that would give it respectability as a company with long-term staying power.

That was the most delusional post I've heard in a LONG time (and there are lots of them today, a day when Apple REMAINED the world's most valuable company).
post #12 of 19
Quote:
Originally Posted by Constable Odo View Post

I sure wish there was some company Apple could acquire that would give it respectability as a company with long-term staying power.

Apple has been in business for 35 years. That is respectable long-term staying power.

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post #13 of 19
Without Steve Jobs at the helm, Tim Cook made his first big public mistake. And it was a doozy. Unless Cook gets a clue, we will be witnessing Apple failures in public for all to see which will profoundly change perception of the company both inside and outside of the company and will have profound negative effects on how it will be run internally.

Thirty-seven billion dollars in revenue in this next quarter might be a reasonable expectation, but it's only an expectation, and one which is as likely to be high as low.

Given Apple's past performance there is no question that Apple was giving out its lower estimates of their revenue during these calls. To be specific, internally they estimate a, say, 95% confidence interval for revenue during the next quarter. During these public quarterly reports, under Jobs, they would give out the lower end of that interval. Luckily, all the things that could have gone wrong didn't and they exceeded the lower bound of their 95% confidence interval.

Now Tim Cook is the CEO and puts out for the public to see, the middle or maybe the max of that 95% confidence interval. Now, instead of being 97.5% confident Apple will meet or exceed their estimates, it's been dropped to 50% at best. From here on, the best we can hope for is that Apple will fail to reach its target 50% of the time.

The more likely problem will be that internally, Apple's culture will profoundly change, from making great products to meeting Tim Cooks's quarterly estimates. And, if that cannot be done, Apple's bean counters, of which Cook is one, will simply "cook" the books. That is, Apple will become far more investor focused and far less customer focused.

With a bean counter in charge, Apple will certainly decline. The Apple board had better do its "Jobs".
post #14 of 19
Almost $10B more than they got this time, and Apple guide conservatively. So oin reality a $12B sequential increase. Even with the extra week that is amazing.
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post #15 of 19
Quote:
Originally Posted by jd_in_sb View Post

Apple has been in business for 35 years. That is respectable long-term staying power.

The investment community still views Apple as a company with a funny name run by hippies out of a garage.
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post #16 of 19
Quote:
Originally Posted by waldobushman View Post

Without Steve Jobs at the helm, Tim Cook made his first big public mistake. And it was a doozy. Unless Cook gets a clue, we will be witnessing Apple failures in public for all to see which will profoundly change perception of the company both inside and outside of the company and will have profound negative effects on how it will be run internally.

Thirty-seven billion dollars in revenue in this next quarter might be a reasonable expectation, but it's only an expectation, and one which is as likely to be high as low.

Given Apple's past performance there is no question that Apple was giving out its lower estimates of their revenue during these calls. To be specific, internally they estimate a, say, 95% confidence interval for revenue during the next quarter. During these public quarterly reports, under Jobs, they would give out the lower end of that interval. Luckily, all the things that could have gone wrong didn't and they exceeded the lower bound of their 95% confidence interval.

Now Tim Cook is the CEO and puts out for the public to see, the middle or maybe the max of that 95% confidence interval. Now, instead of being 97.5% confident Apple will meet or exceed their estimates, it's been dropped to 50% at best. From here on, the best we can hope for is that Apple will fail to reach its target 50% of the time.

The more likely problem will be that internally, Apple's culture will profoundly change, from making great products to meeting Tim Cooks's quarterly estimates. And, if that cannot be done, Apple's bean counters, of which Cook is one, will simply "cook" the books. That is, Apple will become far more investor focused and far less customer focused.

With a bean counter in charge, Apple will certainly decline. The Apple board had better do its "Jobs".

Wrong!
post #17 of 19
Apple's fiscal 2009 revenue was $36.5 billion with earnings of $5.7 billion.
FQ1-12 guidance is $37 billion with earnings of $8.8 billion.
post #18 of 19
Quote:
Originally Posted by solipsism View Post

Then make sure you get a Samsung device so the new device and UI is still familiar.

LOL! Glad to see you back posting.

I think 37B is still a lot, even when you subtract the extra week it's still 34B, so they will generate over a 100B in the next year. Staggering indeed.
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post #19 of 19
Quote:
Originally Posted by island hermit View Post

The investment community still views Apple as a company with a funny name run by hippies out of a garage.

I'm not sure if you're being serious or not. But even the quickest glance at analysts' ratings or the number of institutional investors in the stock would indicate that statement is far from the truth.

I'm still getting to know the various personalities here. So I'll assume that you were joking and I just didn't get the punch line.
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