I know how much everyone likes to discuss accounting methods, but so far none of the articles I've read on Apple's quarterly report mentions whether they've adopted the new GAAP rules that don't require deferral of iPhone revenues. Makes a HUGE difference in what these numbers mean -- but nobody, including the analysts, are talking about it!
Here's one. Also, I think Oppenheimer said in the conference call that they have not decided exactly when to switch over to the new GAAP rules, but they haven't yet.
I know how much everyone likes to discuss accounting methods, but so far none of the articles I've read on Apple's quarterly report mentions whether they've adopted the new GAAP rules that don't require deferral of iPhone revenues. Makes a HUGE difference in what these numbers mean -- but nobody, including the analysts, are talking about it!
They are not in the report it seems. According to MacRumors, using non-GAAP data, Apple would have had $12.25 billion revenue and $2.85 billion of net income.
Apple discussed it. They're not yet using the new methods. It may take something like a year to introduce them because there are a lot of complexities. So all these strong numbers are with the old accounting method, which of course is great news for us bulls.
Quote:
Originally Posted by quinney
Here's one. Also, I think Oppenheimer said in the conference call that they have not decided exactly when to switch over to the new GAAP rules, but they haven't yet.
Quote:
Originally Posted by digitalclips
They are not in the report it seems. According to MacRumors, using non-GAAP data, Apple would have had $12.25 billion revenue and $2.85 billion of net income.
Thanks! I didn't listen to the conference call and was surprised that none of the stories about the earnings report I read yesterday mentioned GAAP/non-GAAP, since this had been such a major discussion item by the analyst wonks over the past few months.
Hey at least "AppleStockInsider" didn't use the advice of Jim Cramer who said to buy Apple stock on Tuesday because the low production volume creating iPhone shortages and therefore although they should report near target with what they were expected to sell, the shortages had cost Apple lost sales and lost revenue and therefor the stock would be down Tuesday, a good buying opportunity! - Booyah!
Looks like Cramer needs to add another sound effect button to his sound machine... it goes something like this...
WAAA, WAAA, WAAAAAAAAH! - Booyah indeed!
I wonder what his stats regarding being right, have been?!
Comments
I know how much everyone likes to discuss accounting methods, but so far none of the articles I've read on Apple's quarterly report mentions whether they've adopted the new GAAP rules that don't require deferral of iPhone revenues. Makes a HUGE difference in what these numbers mean -- but nobody, including the analysts, are talking about it!
Here's one. Also, I think Oppenheimer said in the conference call that they have not decided exactly when to switch over to the new GAAP rules, but they haven't yet.
I know how much everyone likes to discuss accounting methods, but so far none of the articles I've read on Apple's quarterly report mentions whether they've adopted the new GAAP rules that don't require deferral of iPhone revenues. Makes a HUGE difference in what these numbers mean -- but nobody, including the analysts, are talking about it!
They are not in the report it seems. According to MacRumors, using non-GAAP data, Apple would have had $12.25 billion revenue and $2.85 billion of net income.
Apple discussed it. They're not yet using the new methods. It may take something like a year to introduce them because there are a lot of complexities. So all these strong numbers are with the old accounting method, which of course is great news for us bulls.
Here's one. Also, I think Oppenheimer said in the conference call that they have not decided exactly when to switch over to the new GAAP rules, but they haven't yet.
They are not in the report it seems. According to MacRumors, using non-GAAP data, Apple would have had $12.25 billion revenue and $2.85 billion of net income.
Thanks! I didn't listen to the conference call and was surprised that none of the stories about the earnings report I read yesterday mentioned GAAP/non-GAAP, since this had been such a major discussion item by the analyst wonks over the past few months.
Hey at least "AppleStockInsider" didn't use the advice of Jim Cramer who said to buy Apple stock on Tuesday because the low production volume creating iPhone shortages and therefore although they should report near target with what they were expected to sell, the shortages had cost Apple lost sales and lost revenue and therefor the stock would be down Tuesday, a good buying opportunity! - Booyah!
Looks like Cramer needs to add another sound effect button to his sound machine... it goes something like this...
WAAA, WAAA, WAAAAAAAAH! - Booyah indeed!
I wonder what his stats regarding being right, have been?!
https://secure.thestreet.com/AAPSEM/...783&prodid=765
I learned very early to ignore Cramer. He's a loudmouth bloviator with no inside information.
I learned very early to ignore Cramer. He's a loudmouth bloviator with no inside information.
But watched by millions. Now isn't that a scary thought?