Apple shares surge; up 12.58% in heavy early trading

With share volume of 10,872,003 already today, Apple (AAPL) shares rose 12.58%, up $3.72 today after Apple Computer said on Wednesday that its fiscal third-quarter profit tripled, led by surging demand for the iPod portable music player and higher sales of its Macintosh computers.

“It was an outstanding quarter – our highest third-quarter revenue in eight years,” Apple’s chief executive, Steven P. Jobs, said. “Our Mac sales were up 19 percent, and we’re thrilled with that.”

The company reported net profit of $61 million, or 16 cents a share, compared with $19 million, or 5 cents a share, in the period a year earlier. Revenue climbed 30 percent, to $2.01 billion.

AAPL quote here (fifteen minute delay).

15 Comments

  1. Fascinating. I guess I was wrong about Apple. They’ve managed to transform themselves into an iPod seller and music retailer. Well someone has to supply the 1 billion Windows users (by 2010) with gadgets. Weren’t making any money off those stupid Macs anyway.

  2. Apple are now only worth some $100M less than the previously mighty Sun Microsystems, and � more interestingly � they have now opened up a $2 billion gap against Adobe.

    In twelve months time – with a stock price of around $45 (and a market cap of $18 billion) � Apple could easily be in a position to acquire either Sun or Adobe using a mixture of stock and cash, but wouldn’t it be more fun (and cheaper) to acquire Macromedia and the whole of the EMI music group.

    Macromedia is worth around $1.5 billion, and would give Apple control of a great portfolio of creative applications for the new media world.

    The EMI group is worth around $1.8 billion, is rudderless and looking for a partner. Buying EMI gives you control of a range of labels including EMI, Virgin and Chrysalis, as well as an enormous music publishing business.

    Buy EMI, set up the GarageBand Music Store, and exploit the music publishing business by selling MIDI data files for GarageBand and Logic. Also, get those pesky Beatles to play ball by constraining supply of their 40 year old, over-the-hill music. Also you get to keep a bigger pile of the cash due from iTMS, which is just nice.

    Works for me�

  3. Forget EMI, buy both Adobe and Macromedia, discontinue their PC versions and make the Mac the king of all content creation…music, movies, print and web.
    ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  4. A very respectable bounce from the WWDC selloff — big gap and volume too. If this does not exceed the WWDC high then you might still get a chance to buy at the 28s in a few weeks.

  5. i was thinking.. buy adobe and cancel windows development…

    at least you could threaten gates.. but hey.. what’s more important.. graphics or ms office..

    ms office, easily..

    try again.

  6. Wow if Apple bought Macromedia and Adobe they could really hurt Microsoft. Those applications are expensive and very much in demand. Apple could convert a lot of people to Mac hardware if those applications ran better on Macs (although they really already do, and will be better with Tiger with Core graphics, that presentation with all the filters was cool and so smooth)

    So long MS billions!!!!

  7. “…then you might still get a chance to buy at the 28s in a few weeks.”

    You will never see AAPL in the 28’s again unless 1) the stock splits someday or 2) Jobs dies or quits.

  8. “I found it. Give me a call and I’ll return it. Funny there was no money or credit cards in it! ;-]”

    Ahh, thanks pkradd. Please return it with all the Apple stock I bought ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.