“Although Apple certainly is not alone in getting hammered in the midst of one of Wall Street’s worst crises ever, the company’s demonstrated resistance to the general economic slowdown should have provided some insulation. But not with a stock as notoriously volatile as AAPL,” David Zeiler reports for The Baltimore Sun.
“Despite the prevailing sense of panic on Wall Street, the AAPL selloff makes little sense. The company has reported exceptional sales and profits throughout the year, and is expected to post more eye-popping numbers for the quarter that ends Sept. 30.
“Consider: Apple had its best March quarter in company history, with revenue growing 43 percent year-over-year to $7.51 billion. Mac sales were up 51 percent year-over-year,” Zeiler reports. “In the June quarter Apple revenue rose 38 percent year-over-year, led by a 41 percent increase in Mac units shipped. The iPod chipped in with a surprising 12 percent increase in sales year-over-yea.”
“More importantly Apple appears likely to sustain its healthy growth with minimal impact from weakening consumer spending. It defies logic, but that’s what the numbers have been telling us,” Zeiler reports.
MacDailyNews Take: Actually, it’s quite logical: Mac users tend to be better educated and make more money than their Windows PC-using counterparts, and are therefore the last to be affected during “tough times,” if they’re affected at all.
“In the current environment, few companies match Apple’s potential to keep raking in money. Throw in Apple’s lack of debt and staggering $21 billion in cash and you wonder why anyone would sell the stock, particularly as it gets cheaper,” Zeiler reports. “But then again most Wall Street muckety-mucks aren’t looking particularly shrewd these days, are they?”
Full article here.
Yeah, rich white people are worried alright, Mac-nugget. But not worried enough to cancel their $100,000 weddings for this weekend. They’re worried but not enough to drive a car that only requires regular fuel instead of premium. That Benz S550 has plenty of legroom, afterall. And those self-cooling seats will come in handy next summer.
Meanwhile the middle class is downright panicked. Unlike the rich there is no wiggle room, nothing to fall back on. Just belt tightening, despair, and increasing stress as you remain one bad move away from bankruptcy.
Stop whining! Now is your chance to buy Apple shares!
It’s got nothing to do with skin color.
Show me a PC user and I’ll show you a 42-year-old with bad teeth, body odor, rickets and beer-can ash trays who lives in his mother’s basement and who thinks dressing up is putting on his power-blue leisure suit and platform shoes.
Whoa,,, MDN Magic Word = white
What the hell is going on here?
Sorry to see how this discussion has come to a worthless end. I too need to go take a shower.
It’s true. You do see equal numbers of white and black people using Mac products. The whites bought them with their hard earned money and the blacks stole theirs.
Sarcasm.
Unbelievable. My “natural order of things” comment meant that white people belong in highly paid sectors while minorities should stay in the service industry? LOL.
Stop putting words in my mouth, HueyLong. By “natural order of things,” I meant how easy it is to come to the conclusion that Apple’s profits are from the pockets of rich white people who dominate the upper income brackets they target.
It was not sociological commentary about where people of different races belong. I don’t want that conversation. My statement was factual.
Chrissy, you better sell a little more stock, as you will need to buy CS4 for the Camera Raw plug-in that works with the 5D MkII.
Might want to be very careful with any racial or demographic examination of intelligence, foresight, and common sense.
Especially in light of our current National Situation.
About all we have in Washington or Wall Street ?
Old White Guys
BC
That is the most bleak, retarded life view I’ve ever heard. With an attitude like that it’s no wonder you’ve got troubles, and I don’t care if you’re purple. Time to change your ideas, dude.
Yes..why would anybody claim that Apple’s sales will go down during harsh economic times. Everybody knows the first thing people stop buying is food and fuel…duh!
just my $0.02
I’m with megaMe, the only thing I don’t get is Wallstreet’s view of appl.
ChrissyOne
Have you considered the Nikon D700? I bought it this summer and I’m very please now when I have retired my old Contax RTS III with german made Zeiss lenses, 35mm/f1,4 & 85mm/f1,4. I’m considering getting the mount rebuilt to fit the Nikon.
@R2
I hear about this perception that Macs are “toys for the rich”. I don’t really understand where it comes from. It has never been my experience. Yeah, I do see all the spots that Macs get on TV shows and in movies and I guess lots of celebs have their iPods, but who cares what they do, right?
For me, it is simple cost of ownership, getting the job done, quality of life (less stress and more fun using a Mac for any purpose that you would use a PC for). I am not trying to preach to the converted on this forum, but for any PC users who might read the comments.
I am “poor” because I volunteer much of my time to help out non-profits. That’s just what I do. I don’t make the kind of money I could. I love creative media production of all kinds and do a lot of website and communications development. If I didn’t use a Mac, I just wouldn’t do this work at all, simple as that. Not worth the hassle.
Now I have the privilege to start up or change media productions department and communications systems at a fourth non-profit. Macs everytime. Unfortunately, “visionaries” who start new non-profits don’t often have a vision that extends to thinking different in the way the office is run, but they can usually be educated. It’s always in the best interest of the money conscious non-profit. TOC, software licenses, usability and productivity, work satisfaction, you name it.
I would “beg, borrow or steal” to have a Mac to use at all times. And over the years I have never had an issue with second-hand Macs either (right now I am still running second-hand Dual G4 & G5 Towers with Leopard, and I haven’t had a day of problem with either though they are about 6+ and 4 years old). Seriously, if I wasn’t creating media on a Mac I would probably just work more directly with people or do some kind of manual labour in the great outdoors, and not work at a desk at all. Actually, having a Mac in our household comes before having a TV (don’t have one) and comes before having a fancy or reliable car (we bike a lot). I think that anyone who cares about money and says they care about making a wise financial decision; or values their time, productivity and frustration levels, just owes it to themselves to check out Macs. If they are content to stereotype themselves as an average, uncritical consumer, and continue to stereotype Macs as toys for the rich, then that is their loss.
People are SO willing to play the race card tp only their own advantage….the fact is R2 is right, no matter how “PC” you guys want to be…..
happy poor mac user,
Good for you! I’m glad some other people here believe in helping the poor and homeless and follow their hearts and not just their wallets.
For my story, see my post at the end of the uTorrent forum from today’s article. The job that I have now is in a clinic that takes care of the poor, the uninsured, the homeless, and non-English speaking immigrants (both legal and illegal).
R2 sure has obsessions. The fact that the Mac system is beautifully designed, and I mean from the INSIDE out, is the important thing. Lord knows what he’s on about poor soul.
(When I use the word beautiful, that is misleading. Frankly I don’t CARE what the Mac things LOOK like – I’d prefer them to look like an Art Deco radio myself, but the SYSTEM is the thing. They are going for Perfection. Microsoft goes for Control.
The race thing is a meaningless red herring.
What bullshit:
Actually, it’s quite logical: Mac users tend to be better educated and make more money than their Windows PC-using counterparts, and are therefore the last to be affected during “tough times,” if they’re affected at all.
Tell those work in Lehman brothers they are not affected by “Tough Times”
@R2
Fact…surveys have indicated that Mac users are better off due to their higher education. I think what people here are questioning is not so much than your ‘factual’ statement that this is a mainly white group, it is more ….why are we bringing race into this at all? What was the purpose? It is irrelevant to your point but the fallout from it is that people will take it the opposite way…that non-whites are poor and not very bright.
Catch my drift?
@ macdriller
I would probably own a D700 is I were a Nikon person. As it is, the 5DIi is the one I’ve been waiting for this past year, and from what we know it’s going to be an amazing machine. Even without the amazing video quality, it’s everything that I’ve been wanting. You should check it out –
http://blog.vincentlaforet.com/2008/09/22/without-further-ado-reverie/
Imagine using all your fast still lenses for movies… yeah. I can’t wait!
@ neomonkey
I get CS4 for free, hon. Comes with the job.
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