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Apple profit almost doubles for the quarter.

rafterman

A sadder and a wiser man
Feb 15, 2004
3,423
77
48
Wish I'd bought it three or four years ago for $50.

I guess they are justing starting to tap the market but the multiple on this stock is what 30 times earnings, maybe less now, still too rich for my lily white chicken shit ass.

Apple blows past Street targets
Jessica Mintz
16:56 EST Tuesday, Apr 20, 2010

Seattle — Blockbuster iPhone sales helped Apple Inc. blow past Wall Street's expectations with a 90-per-cent leap in profit for the most recent quarter. Shares skyrocketed to an all-time high in extended trading Tuesday.

Apple said it sold nearly nine million of its popular iPhone smart phones in the three months that ended March 27, more than double sales from a year ago.

Peter Oppenheimer, Apple's chief financial officer, said in an interview that Apple sold more iPhones than in any previous quarter, with strong sales coming from both existing and new mobile carriers. Although AT&T Inc. remains the exclusive U.S. carrier, Apple has been selling phones through multiple carriers in other countries.

After a brief trading halt, investors sent Apple's stock bounding up $17.31, or 7.1 per cent, to $261.90 in after-hours trading Tuesday, surpassing its previous high of $251.14, which had been set Friday. Earlier Tuesday, the stock had shed $2.48 to close at $244.59.

Apple's profit and revenue were its highest ever in a non-holiday quarter, Mr. Oppenheimer said. Earnings rose to $3.07-billion, or $3.33 per share, from $1.62-billion, or $1.79 per share in the same period last year.

Revenue rose 49 per cent to $13.5-billion from $9.08-billion in the year-ago quarter.

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Analysts had expected Apple to earn $2.45 per share on $12.04-billion in revenue, according to a survey from Thomson Reuters.

The company said it sold almost three million Macs, a 33-per-cent increase. IPod unit sales edged down 1 per cent – but Apple still sold 10 million of the digital players.

Apple didn't start selling the iPad until after the fiscal second quarter ended, but analysts were pressing for details after Apple said it would have to postpone the international launch of its new tablet computer.

Tim Cook, Apple's chief operating officer, said there are no production problems with the iPad. The international launch has been delayed only because of demand in the U.S., where Apple said it sold more than 500,000 iPads in its first week.

“It has shocked us, the level of demand, at least initially. We'll see what happens from here,” Mr. Cook said.
 

canucklehead

Active member
Oct 16, 2003
2,422
12
38
Thank you Michael Dell ..... both your arrogance and self importance helped me to purchase more stocks when they were in the 16/17 dollar range .... thank you Apple ..... money back in my pocket is always good incentive to purchase the products..... plus they always work ....
 
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