Not a bad quarter....

[onthebottom]

If you want to know what a Pekkkr sell recommendation looks like here is one:

Apple profits surge 77% on record sales of 4.1M Macs, 16.2M iPhones, 7.3M iPads

By AppleInsider Staff
Published: 04:40 PM EST

Apple said Tuesday that first quarter profits rose more than 77% to $6 billion, or $6.43 per diluted share, driven by record sales in three of its four major product categories, helping the electronics giant smash Wall Street's consensus estimates yet again.

The Cupertino-based company also posted record revenue of $26.74 billion for the three-month period ended December 25, 2010, or more than $2 billion above consensus estimates, as independent analyst and AppleInsider contributor Andy Zaky predicted. The results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter.

Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The company also sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. iPod sales during the quarter totaled 19.45 million, representing a seven percent unit decline from the year-ago quarter, while iPad sales came in at 7.33 millionunits.

“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Apple Chief Executive Steve Jobs. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”

Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.”

Apple will provide live streaming of its Q1 2011 financial results conference call beginning at 2:00 p.m. PST. AppleInsider will have full coverage.

 

[WoodPeckr]

Yeah but it's not doing so good lately...
http://finance.yahoo.com/q?s=AAPL

 

[onthebottom]

Lol

otb

 

[Rockslinger]

Old trader proverb: "Sell when all the news is exceedingly excellent."

 

[WoodPeckr]

Lol

otb

Well you were warned.....

 

[onthebottom]

Notes from the analyst call:

- Record-breaking quarter: Apple set new quarterly records for Mac, iPhone, and iPad sales, as well as revenue and profit.

- iOS device sales booming: Apple has now sold over 160 million iOS devices since the original iPhone debuted in mid-2007, with iPhones accounting for the largest share at nearly 90 million. Apple sold over 360,000 iOS devices per day during the quarter, and iOS devices generated nearly two-thirds of Apple's quarterly revenue.

- iPad sales skyrocket: Apple's iPad sales of 7.33 million were well above analyst expectations and brought total sales to 14.8 million over the first nine months of availability.

- iPhone supply issues: iPhone supplies remain constrained, and the company believes it could have sold more than the record 16.24 million units sold during the quarter if supply had been available. Apple is continually working to increase production capacity, but it takes time.

- Long-term component contracts: Apple has entered into three long-term component supply contracts worth $3.9 billion. Executives declined to elaborate on the suppliers or components involved, but likened the deals to one signed in 2005 to secure five-year access to flash memory as the company made its push into flash-based iPods and eventually the iPhone.

- Tablet competition: Apple COO Tim Cook divided existing tablet offerings from competitors into two flavors: Windows-based tablets requiring a keyboard or stylus and small Android-based tablets running an operating system not designed for the form factor and consequently yielding a "bizarre" scaled-up smartphone experience. Apple doesn't consider either of the two categories competitive with the iPad. Looking ahead to Android 3.0 tablets, Cook referred to most of the CES tablet announcements as "vapor" for the time being and indicated that Apple will evaluate them as they come to market, also noting that Apple is of course not standing still with the iPad.

- "Cannibalization" by the iPad: Cook noted the iPad is slightly eating into Mac sales, but that with the Mac's relatively small share of the PC market, there is room for the iPad to replace a lot of PC sales while only marginally affecting the Mac. Cook also referenced the "halo effect" in which customers introduced to the company with the iPad are finding themselves turning to Mac for their computer purchases. "If this is cannibalization, it feels pretty good," Cook quipped.

- Jobs' health: Surprisingly, Steve Jobs' new medical leave of absence was not addressed either by Apple executives or analysts posing questions during the Q&A portion of the call. Brief discussion of the issue from the perspective of whether there will be any substantive effect on Apple's operations going forward was widely expected.

 

[WoodPeckr]

Nice spin there bottie

That stuff you learnt in business school is paying off bigtime....