More Bad News For the Apple Bashers

And you know who you are…….

Apple shares jump on strong quarterly earnings

SAN FRANCISCO, July 14 (Reuters) – Shares of Apple Computer Inc. rose as much as 9.5 percent on Thursday after the maker of the iPod digital music player and Macintosh computer posted better-than-expected earnings and issued a forecast that analysts considered conservative.

Apple shipped more than 6 million iPods in its fiscal third quarter ended June 25, about 1 million more than most estimates, and Mac unit sales rose 35 percent from a year ago, contributing to a profit that more than quintupled. …

In recent quarters, Apple has either blown away or soundly trounced average Wall street estimates when it has reported quarterly earnings.

Apple’s net income in the third quarter rose to $320 million, or 37 cents per share, from $61 million, or 8 cents, a year ago. Revenue rose 75 percent to $3.52 billion from $2.01 billion.

Analysts and Apple said that the “halo effect” is continuing — the notion that as more people new to iPods buy them, increasing numbers of those consumers are also buying Macintosh computers.

Tim Cook, head of worldwide sales and operations, said on a conference call on Wednesday to discuss the results that the Mac mini — which starts at $499 and comes without a display, keyboard or mouse — is broadening its customer base because it appeals to more price sensitive consumers.

They had revenue growth of 75% and net profit growth of 425%! Gross margin was 29.7%, up from 27.8% a year ago.

To approach doubling revenue in a company the size of Apple is amazing. Last year Apple was #301 on the Fortune 500 list. This year they jumped to #263. (232 places ahead of Gateway BTW) Not even growing the company -just keeping sales the same as they are today- Apple will probably crack the top 150 on the next list.

They increased Mac unit sales by 35% in a single year. Will the people who said the Minis and the iPods would not lead to bigger sales please sit down now? 😉

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