“This morning’s rally centered on Microsoft, which beat the street and issued an earnings forecast topping estimates after yesterday’s closing bell. Shares of Microsoft jumped 3% in early trading this morning but ended the day about 1% down,” Matt Egan reports for Fox Business Network. “The company said its revenue jumped 30% from a year ago.”
“The importance of Microsoft’s positive earnings announcement comes from the lackluster performance and warnings from other tech giants in recent weeks, including chipmaker Intel and Apple,” Egan reports.
Full article, Think Before You Click™, here.
MacDailyNews Take: Sometimes you just have to laugh at the sheer stupidity and utter incompetence on display. These people get jobs, folks. Other people – presumably even stupider and more incompetent people – actually pay them. It never fails to amaze. What’s next, Matt, are you going to report that the sky is pink, water isn’t wet, and that you’ve just been accepted into Mensa?
Apple on Tuesday announced record financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted record revenue of $9.6 billion and record net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compared to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter.
Apple easily beat the street’s estimates of $9.47 billion in revenue and $1.62 per share.
Apple shipped a record 2,319,000 Macintosh computers, representing 44% unit growth and 47% revenue growth over the year-ago quarter. The Company sold a record 22,121,000 iPods during the quarter, representing five percent unit growth and 17% revenue growth over the year-ago quarter. Quarterly iPhone sales were a record 2,315,000.
“We’re thrilled to report our best quarter ever, with the highest revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO, in the earnings announcement.
“Apple’s revenue grew 35% year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter’s record-breaking results,” said Peter Oppenheimer, Apple’s CFO, in the press release. “Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $0.94.”
Apple’s Q2 08 guidance is 29.3% over the company’s Q2 07 posted revenue of $5.26 billion.
On which planet is 35% YOY revenue growth less than 30%?
Contact Info:
@Perception,
You mean “business writers” like John Dvorak, who in 1985 wrote about how “WIMP” computers (Windows, mice, pull-down menus) will never take off? Or “business writers” who don’t understand that Apple’s market penetration of 5% in 2006 became 7% in 2007, and is projected to be 9.5% in 2008?
@Greg L
Exactly. We don’t like ’em and they make great targets for all the moron, idiot, etc. name calling that gets launched around here all the time, but they use Apple’s main weakness – that of being a producer of things designed for off beat kids – to keep the company’s market share in the single digits – something that will never be exceeded on the world wide market – regardless of how many languages are loaded into the next OS version.
Here’s the deal:
Walk into any retail tech store (except for Apple Retail Stores) anywhere, look around on the shelves where ever you find Apple phones and tunes players. What do you see?
Gadgets galore – maybe not as ‘elegant’ or as pretty – that do all the same things that the Apple gadgets do and so many of them at a fraction of the price for an Apple toy. How long will the sparkle on the Apple toy last – that’s the question serious investors ask and they obviously don’t have faith it will be for long – especially when Steve stupidly issues guidance designed to reduce expectations that has the immediate result of reducing confidence on the worst day he could have possibly picked.
Serious, far superior computers for today and for the future – that’s where Apple needs to go.
Proof, again: look at MSFT this week vs. AAPL. Need I say more?
Have some perspective
This looks like a bear raid…circa first half of 2006…a rare chance to accumulate, as the hedge funds force it lower.
I know a Smith who works for HSBC in Chester, he’s a stupid person too.
Toys & Gadgets? Seems to me Apple is building a unified ecosystem that runs on OSX. Develop for one, develop across all…no one else is even close. Windows people need to pull there heads out of their collectives asses, but why start now. An interesting read:
http://www.roughlydrafted.com/2008/01/24/the-unrealized-potential-of-apples-hybrid-platform-mac-ipod-iphone-and-tv/
ron: “Deception is Everything. Yes, what is, is; unless you’re Slick Willie, then it depends what is is.”
Awww, after all these years, Ronnie’s still obsessed with the clenis.
“Apple needs to kick Owl Gore off of their board.”
Let’s just hope George W. Bush never gets on Apple’s board. He’s sunk more business’ than Germans sunk ships.
Pete, it’s not hard to see why they fired you.
Wow. Tis amazing that:
– drivel that gets repeated gets accepted into conventional wisdom
– that some still think Apple makes toy computers (as I run a process on a 31 cpu Xgrid!)
– the Windozoid fanbois need to come here to rant about Apple & fans
It’s just a company that makes great products that sold record amounts — get over yourselves, Winbois! Don’t worry, Windoze will still be around for a long time — the hegemony will fade slowly. Your Tech Support jobs are safe for the next decade. Now go back to your games and let us enjoy the good news and ignore the temporary stock manipulations.
Yeah, and NPR reported that Apple reported a “less than stellar” first quarter ’08.
Give me a friggin’ break: Apple reports the best quarter of revenues and profits in 24 years and the idiots at NPR called it a “less than stellar” performance.
Typical crap that passes for journalism these days…
Guys- Just go to an Apple Store on a Saturday or Sunday and you’ll see the real deal. They’re packed! So just thank god that 99.9999 of people don’t listen to those agenda driven idiots.
Apple doesn’t do a very good job defending themselves when press errors are made, they seem to think they don’t need to. 200 to 130 share price drop in days due to many misleading news items and not one word from Apple management.
Their relationship with financial analysts also seem distant at best. During one of the important Apple events (the new imac launch if I remember correctly) last year financial writers complained not one of them were invited: only tech writers got invitations. Other fortune 500 companies fawn over stock analysts to get good press, Apple doesn’t seem to care about this (Does this come from Steve’s disdain for ‘suits’? Wired magazine says he calls them ‘orifices’) Many finance writers are Prima Donnas and they are going to sting back.
This droid is from F*X? BWAHAHAHAHAHA! That explains everything. That anyone believes anything NewsCorp reports is simply a testament to how easily another cult of thugs, à la Fascists and Nazis, could take over a government and start WWIII. Feed the sheeple what they want to hear and they’ll follow you anywhere, including the slaughterhouse.
But back to Earth: This is yet another great time to grab Apple stock while its cheap, before the bozos catch on.
STUPIDITY AT ITS BEST! CONGRATS MATT!!
Perception – you need to get your head out of Gates rear-end. If I try to write how wrong you are on most of your points, the words would go into the thousands. Yep look at MSFT, XBox 360 that overheats, Vista (5 years of waste and the only reason they are sell is because you can’t get a PC without Vista) and Zune the iPod killer HAAAAAAAAAAAAAAAAAAAAAAAAAA! Yep invest in them instead of the maker of iPods (still selling millions), iPhone (sell millions with growth in the future), Laptops selling like crazy with more growth to follow, Movie rentals on iTunes just starting, Apple TV, Macbook Air, etc.. Take a few weeks out a year and base your investing on that, what a retard. MDN – right again, keep me smiling with those great responses.
Fox Business Channel:
Murdoch pumped $200 million into its launch in October.
It poached several prime-time presenters from the established leader, CNBC. So far it’s been an utter, miserable failure. Only 283,000 viewers tuning in.
They’re talking to no-one. Who gives a sh*t what Fox “Business Channel” says.
They are a joke.
Perception go sit on your toy maybe it will open your eye
@Davewrite. That is the most perceptive thing written in a long time on this site. Thanks. ron.
I’m happy you’re not Davewrong.
I Never Click™
oh and:
IF You Don’t Understand The Market, Don’t Invest And Complain™
Bottom line is that Steve should take out a full page ad add in the WSJ disputing all of these so called subject matter experts line by line.
In the meantime, the rest of us who do believe should invest more heavily in Apple because we won’t see this stock this low probably ever again…
@ Perception
You’re a buffoon.
I rest my case.
No, seriously, your idea has a major flaw – consumers, for the most part, do not want computers that are ‘far superior’. They won’t buy them. They want the cheapest thing they can get from Wal*Mart to run the interweb. Or maybe they want one that’s a little nicer to play games on.
If Apple built ‘far superior’ machines (that would have to cost a lot more) then even fewer people would buy them. You leave out the cost factor in your screed – and that’s important. Do you think that they just build computers that are ‘just enough better’ and keep a bunch of extra cash? Engineering costs money, and more engineering drives up cost. That’s what ‘far superior’ costs.
Now, Apple could do this, and sell to an even smaller, more exclusive boutique audience, and the platform would shrink. And that would be an idiotic idea worthy of your praise. Yay! What will the pundits say now?
Simple economic reality, son.
Now STFU.
“Proof, again: look at MSFT this week vs. AAPL. Need I say more?”
Not if it’s going to be that fscking stupid.