“With iPod sales still soaring, Apple Inc. reaped record profit during the holiday quarter and stands to remain a Wall Street darling despite issuing a second-quarter forecast that fell below analyst expectations,” The Associated Press reports. “‘Their guidance is always conservative,’ Piper Jaffray analyst Gene Munster said. ‘It’s a bunch of hoo-ha.'”
AP reports, “Apple didn’t disappoint during its last quarter and easily topped analyst targets. For the final three months of 2006, profit surged 78 percent after the company sold a record 21 million iPod players, or about 50 percent more than it did in the same period the year before. That’s an iPod sold for nearly every person in Texas. Sales of the iconic device accounted for $3.43 billion, or nearly half, of the company’s total revenue for the quarter.”
“Apple also shipped 1.6 million Macintosh computers, up 28 percent from the year-ago holiday season,” AP reports. “The Mac sales growth rate was more than triple that of the overall PC industry for the period, according to market research firm IDC. Apple’s share of the PC market in the U.S. also grew to 4.7 percent in the quarter, up from 3.6 percent a year ago, IDC said. ‘Apple is clearly at the top of its game right now,’ said analyst Samir Bhavnani at Current Analysis.”
Full article here.
Samir, you ain’t seen nuthin’ yet! And, yes “bunch of hoo-ha” is the official Wall Street term for Apple’s quarterly guidance.
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