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Apple: highest quarterly revenues EVER!

According to CNN:

“Record Macintosh and lightning-fast iPad sales made Apple’s latest quarter its best ever, the company said Tuesday.”

Whenever I start to “feel a little down,” I just remember that the world is getting SMARTER! :-) If you work for enough stupid companies (or just one, long enough :-) ), you might forget that fact. :-)

People, given enough information and spending their own money, will generally make wise choices with regard to product quality, in contrast to most corporations.

CNET said:

“The company reported its fiscal third-quarter results on Tuesday. Its reported earnings for the quarter represent an 88 percent increase in revenue over the same quarter a year ago, when Apple recorded revenue of $8.34 billion. The $15.7 billion figure is also on the high side of what Wall Street had been expecting: Analysts were anticipating between $13.82 billion and $15.74 billion in revenue, and earnings between $2.65 and $3.74 per share. Apple had offered a typically conservative forecast of third-quarter 2010 revenues between $13 billion and $13.4 billion, and earnings per share between $2.28 and $2.39.”

Apple sold 3.27 million iPads during their first quarter of sales and 3.47 million Macintoshes, a 33% increase over last year’s quarter. iPhone sales were 61% greater than last year’s quarter, 8.4 million. Apple sold 9.41 million iPods, down 8% from last year. The growth in Mac sales indicates that iPad is not noticeably cannibalizing Mac sales, for anyone who would somehow think that it might. iPod Touch continued to do well, growing 48% and pushing iPod revenue UP 4% for the quarter.

Steve Jobs hinted at new products yet to come, saying, “We have amazing new products still to come this year.” Tim Cook said that Apple was backlogged with orders for iPhone 4 and iPad. CFO Peter Oppenheimer said that there are now 3.2 million iPads in 10 countries, bringing in $2.17 billion.

Apple stock was up 2.13% to $257.25 in after-hours trading, according to CNET.

(Note added July 21, 2010: Something I did not know: “With a market cap now hovering around $236 billion, Apple is the second-most valuable company in the U.S., behind only Exxon.”)

-Bill at

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