Apple investors needed a home run from Apple , the company stepped up to the plate and promptly knocked a line drive over the center field fence.
Apple reported$1.35 a share versus the $1.17 expected, on $8.34 billion, or $200 million better than Wall Street expected.
In fact, this report eclipses last quarter's as Apple's best, non-holiday quarter ever.
Recession? What recession? Certainly not at Apple. I mean, are you kidding me? Maybe the naysayers will hunker down a little bit and begin to truly appreciate the fundamental and consistent performance of this company.
Mac sales: 2.6 million; iPhones, 5.2 million; iPods, 10.2 million. Huge numbers all. And a gross margin of 36.3 percent, matching last quarter's performance. How? How? How?
The company's guidance, what Gene Munster just called "comical," calls for an EPS range of $1.18 to $1.23 on revenue of $8.7 billion to $8.9 billion. The Street expected $1.20 to $1.29 as an EPS range, on $8.9 billion to $9 billion. So Apple's typically conservative guidance is actually a little less so this time around, and that bodes well for Apple's momentum on Wall Street to continue.
This is a blockbuster report. Plain and simple.
Update:
iPod? What iPod? Say Hello to iPhone!
After my last post, Apple watcher Andy Zaky wrote in with the following, very interesting point:
"In my previous e-mail to you I noted that iPhone revenue would dethrone the iPod to be the second biggest contributor to overall revenue," he writes.
"Apple finally did it. I think this makes for an interesting story because a lot of people recognize Apple as the 'iPod Maker.' I think the fact that the iPod is now the third biggest contributor to revenue behind the iPhone and Mac breaks it out of that prescribed mold."
It's a great point and a true sign of the times. How quickly things can change!
Thanks Andy.
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