Mac, iPhone, and iPad user Rush Limbaugh today discussed Apple Inc.’s fiscal Q312 earnings results and the company’s prospects for the holiday quarter on his radio program that, since its inception on August 1, 1988, is the highest-rated talk radio show in the United States. The 3-hour Rush Limbaugh Show airs daily on a network of approximately 590 AM and FM affiliate stations. The program is also broadcast worldwide on the U.S. Armed Forces Radio Network. A November 2008 poll by Zogby International found that Rush Limbaugh was the most trusted news personality in the nation.
From the live transcript, Limbaugh said in part:
Now, this was really kind of… I don’t know, it’s funny, and it was a little cute, a little heartwarming at the same time. I’m in here busily prepping today’s excursion into broadcast excellence and Snerdley walks in with a pot of coffee. He walks in with a pot of coffee, and he says, “Boy, I bet you’re not feeling too good today.”
I said, “Why?”
“The Apple news. I know you love Apple. We all love Apple, but, boy, financial report really, really, really bad quarter. I mean, are they in trouble? Gee, what happens if they stop making iPhones?”
I said, “What in the world are you talking about?”
“Well,” he said, “The quarterly earnings report.”
I said, “What do you mean, quarterly earnings? They had an up quarter year over year. They were up.”
He said, “Well, the media…”
I said, “Ahhh, I know what you’re talking about.”
What happened was Apple announced their quarterly earnings yesterday in a conference call to journalists and so forth, which ought to tell you something. And what happened was, they didn’t meet Wall Street expectations of their performance. Apple’s like every other company, they issue guidance for investors, what they think their next quarter is going to be, and they always undershoot it. They always have low expectations so they can show blowouts. And Wall Street, like every other company, has their own ideas of what a company is gonna do, based on what their experts think, and they had these expectations for Apple of $10 a share and $40 billion of profit.
So Apple comes in with $35 billion of profit and $9 a share. They were up year over year. They had a record number of iPads sold, 17 million. They sold, what was it, 26 million iPhones, and there’s gonna be a new one in two months. And everybody knows there’s gonna be a new one in two months. Well, let’s see. Yeah, they’re gonna announce it in September. And so rumors are holding down sales. I think the problem with Apple is they’ve blown the doors out for so long that everybody’s expectations are way up. When they have a blowout, but not up to their standards, people start getting concerned. But that’s the problem…
It’s okay. So they drop 30 bucks a share in after-hours trading. Wait ’til you see their [calendar] fourth quarter. They’re gonna have stuff, new mini-iPad, new phone, new computer, they’re gonna blow it out in the fourth quarter and all this is gonna be a memory. This isn’t bad anyway. I just wanted to share with you Snerdley’s concern for me ’cause he knows how much I love Apple and rely on their stuff. Rely, like, love, all the same.
Full transcript here.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]
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Uh oh… Jobless claims fell unexpectedly today. Futures are up. I would prepare for 4 more years guys.
and will be revised again next week, like they always are… (only one week in the past 65+ weeks it was NOT revised up… do research for once in your life)
and don’t forget the constant stream of those that give up looking and are no longer counted in these numbers…
oh wait, you are a liberal, and have no f’n clue what i’m talking about.
you need to do a little research into U3 and U6 numbers.
again i’m sorry… you’re a liberal and will not do any “work” on your own…
Jobs data or any economic data always gets slightly revised later. Always has always will.
I see you still don’t provide anything to back up your BS…
Here a little video for you to watch. a month old but at that time 63/64 weeks, it’s like 67 or 68 weeks now.
http://video.foxbusiness.com/v/1679028801001/labor-dept-revised-jobless-claims-upward-in-63-of-last-64-weeks/
note how he says it’s normal to be revised.. but not up?… and not for this long of a period… march 2011 was the last time it was not revised up a week later.
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