Trader Talk

Apple Earnings Beat — A Lot

After the close, Apple reported earnings and sales well above expectations: $3.33 per share (consensus was $2.45) on topline of $13.5 billion (consensus $12 billion)

Guidance of $2.28 to $2.39 is well below expectations of $2.45 — that conservative guidance is typical of Apple .

Unit sales were strong across the board:

1) 2.94 million Mac computers sales were sold (33 percent more than the same period last year and above expectations)

2) 8.75 million iPhones sold (131 percent more than last year and above the 7.5 million expected), and

3) 10.89 million iPods sold (a slight decline from last year, remarkable considering the iPod is considered to be a passe product).

Cash has DOUBLED to $10.0 billion in six months.


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