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Apple Crushes Earnings, As Usual Guides Below Expectations, 62% Of Sales Come From Abroad
Here is the summary of the beat:
- Revenues: $28.6 billion on Exp. of $25.02 billion
- EPS: $7.79 on Exp. of $5.87
- Q3 Gross Margin of 41.7% on exp. of 39.2%
- Sold 9.25 million iPads on expectations of 7.8 million
- Sold 3.95 million Macs on expectations of 4.2 million
- Sold 20.34 million iPhones
- Sold 7.54 million iPods
- International sales account for 62% of total revenue
And once again guides below expectations:
- Sees Q4 Revenues of $25 billion on Estimate of $27.73 billion
- Sees Q4 EPS of $5.50 on Estimate of $6.41
From the release:
Apple® today announced financial results for its fiscal 2011 third
quarter ended June 25, 2011. The Company posted record quarterly revenue
of $28.57 billion and record quarterly net profit of $7.31 billion, or
$7.79 per diluted share. These results compare to revenue of $15.70
billion and net quarterly profit of $3.25 billion, or $3.51 per diluted
share, in the year-ago quarter. Gross margin was 41.7 percent compared
to 39.1 percent in the year-ago quarter. International sales accounted
for 62 percent of the quarter’s revenue.
The Company sold 20.34 million iPhones in the quarter, representing 142
percent unit growth over the year-ago quarter. Apple sold 9.25 million
iPads during the quarter, a 183 percent unit increase over the year-ago
quarter. The Company sold 3.95 million Macs during the quarter, a 14
percent unit increase over the year-ago quarter. Apple sold 7.54 million
iPods, a 20 percent unit decline from the year-ago quarter.
“We’re thrilled to deliver our best quarter ever, with revenue up 82
percent and profits up 125 percent,” said Steve Jobs, Apple’s CEO.
“Right now, we’re very focused and excited about bringing iOS 5 and
iCloud to our users this fall.”
“We are extremely pleased with our performance which drove quarterly
cash flow from operations of $11.1 billion, an increase of 131 percent
year-over-year,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to
the fourth fiscal quarter of 2011, we expect revenue of about $25
billion and we expect diluted earnings per share of about $5.50.”
iPad or mortgage payment? The winner is clear
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Soon Apple's market cap will equal the total US debt.. lol
New executive order - each dollar will be backed by an AAPL share - its going to be the 'iStandard' lol
Apple for President !
iTeleprompter
LOL!
iCarumba ! Nice earnings.
amazing
Good to see a real success story for once. (Tip hat)
+1
Nationalize it and sell it to the Chinese.
I thought the Chinese made it and sold it to us. They we sell it back?....I like this idea.
I think it goes:
We make it and sell it to them, then use the cash to buy oil, and when they try to sell it they can't.
Yes we can!
...and we'll throw in Bank of America as a nice parting gift!
foxconn wil be able to buy stronger nets.
Soon Apple's market cap will equal the total US debt.. lol
iFOMC
The US government deficit is about equal to the profit of 50 Apples...
don't forget -- 60% of revenue was from abroad or two.
... and there was me, after reading zerohedge day-in-day-out, thinking that the economy was about to collapse.
Never underestimate the stupidity of people, i truly believe that there are large section of people in society now who would gladly not let their kids eat for a week if it meant they could afford the new iPhone.
A week of McDonalds at $6 a meal for 21 meals is $126. Better starve the kids for two weeks if you wan Iphone (a month for an Ipad)
if that is what you eat then you won't live long enough to have saved for the ipad...
Wasn't there a story about some idiot who got a stupid tattoo in return for an ipad?
No, a kid in China sold a kidney for one. It was within the past 45 days, iirc.
What's next, an eye for an i ?
Whoa! My boy Reggie must be coughing up blood! I hope he covered. But I gotta give Apple credit. People love their stuff!
Computers, phones, iPads, music, videos, books apps...they are a juggernaut!
Actually, they are mere gadgets and a destraction from the real world. Unfortunately, that is what the world has become; a destraction from 'Truth' which transforms 'reality'.
Yeap. I uninstalled iTunes in the last quarter. Apple really is a baffling story. Are all great success stories laid on a foundation of marketing crap that doesn't really work but expensive and serves as an easily identifiable status symbol?
“Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”
In other words, "we're going to guide even lower, and beat by twice as much."
Standard practice by every major company. Managing expectations.
Yeah, it's a total joke.
lyin' bastards......... fuckin' lawyers (irrelevant, but I never miss an opp)
Time to make a ZH app
OhDear! :)))
Proving once again Wall St. analysts are incompetent.
JP Morgan was the closest of the pros.
Delete
Delete
...or they are conspiring to "goose" the market. Nah, that would be unethical and immoral. They would surely not do that!
On a long enough timeline the value of Reggies AAPL puts goes to $0.
haha
haha
Since January, Apple insiders have sold $55-$60M worth of stock, and there have been NO purchases. From April 2010 to November 2010, there were over $100M worth of Apple insider sales.
Can we finally conclude that insider buying/selling ratios are utterly irrelevant to the future price and performance of a company's stock?
http://www.secform4.com/insider-trading/320193.htm
Actually, you can conclude that the amount of insider stock sales is directly proportional to how many jobs they are shipping overseas. An interesting number to find out; what percent of their product is made overseas.
No quicker than you can conclude that AAPL is a symbol of the U.S. economy.
Is a timewasting electronics tax next? Gotta go where the $$$ are.
Attn: Bears
My warning posted on Wall St. Bear last night:
Posted by RobotTrader - Mon, Jul 18th, 2011 - 9:20 PM (EST)Remember these last 5 trading days.
- The repeated huge negative TICKS (8 days in a row -1000, 4 in a row -1300)
- Giant 5-day ARMS reading last week (over 11)
- Horrific news flow
- Continual re-testing of 200-day EMA
- Leading stocks absolutely refuse to pull back.
- U.S. Dollar cannot rally and foreign currencies strong like a rock.
- CRB index and gold still holding up strong, no sign of cracking
IF THE MARKET TAKES OFF HUGE ON A DEBT CEILING AGREEMENT OR A SURPRISE STIMULUS OR JOBS PLAN WE WILL BE LOOKING STUPID IF WE LOOK BACK AND WONDER WHY WE DIDN'T LOAD UP TO THE MAX RIGHT NOW.
the bank supervisor calmy walks over to 'tard's work station in lobby where a half dozen customers shift from one foot to next. the supervisor presents 'tard with detailed listing of internet sites visited and posts made during office hours. he then hands him final check paid through day. advises him that he's being let go after repeated warnings of slacking during work hours. the supervisor then escorts 'tard off bank premises to applause of all staff. over the din of applause one commenter is heard to say: thank goodness our long nightmare is over.
Who will process the preliminary loan apps now?
there probably aren't any since he ran all the customers off with terrible service.
"surprise stimulus" Robo?
After 1 comes 2, after 2 comes..... what again? Oh ya, SURPRISE, it's 3.
QE3, 4, 5, 6.... it's an ongoing thing, otherwise the ponzi collapses.
Yeah, we need MORE stimulus, and a "plan" for jobs.
In fact, why don't we just plan everything?
Do you have a website to get market insight? I'm done being a bear... LOL
So from your post youre saying youre equity loaded to the max right now? I'll remember to mark that.
Doubt we hear any more from Robo as he sold at CLose today and is now
in negotiations for an island or two and is having the Citation X fueled as we type.
'IF THE MARKET TAKES OFF HUGE'...based on what fundamentals? An agreement to put 'mericans more into hock through gub'mint spending?
double post...
Nicely put.
TO THE MAX (bitchez) and, btw, RIGHT FUCKING NOW, too
Aren't you used to looking stupid by now?
Robo; you look stupid conforming to the status quo. Why are you unable to break these chains?
aapl going parabolic after hours
We are motherfuggin' saved. Thanks be to God and Jobs.
Dang and it's been a couple days since Reggie Repeat bashed Apple, I was looking forward to another round.
Doesn't anyone 'sell the news' anymore?
Bill , 404 to 396 in 10 minutes, smart money and the "insiders" are unloading into the RobotTraders as we speak.
Just profit taking, aappl is up what, 30% in one month?
I've got to admit that 28 billion per Q isn't that bad at all.
Their turnover on a annual basis is as big as the market cap of some of the biggest banks on earth.
This is just nuts!
Just imagine when they lose their competitive edge and somebody takes over. That bomb will hit the stock market beyond belief.
But at least they have a logic value, compaired to google... and linkedin... and all the other crap.
If people buy their stuff then they are in business.
That's business. Buying stuff you like. $28B or $38B, people like their stuff.
I ordered another MBP. This one will replace my Dell PC. The MBP works extremely well as a desktop. I love it. A true marvel of modern science
Don't get me wrong, I've got the Iphone, Ipad and Ibook.
But at some point, the lifecycle of all these product will run out and competition will nuke it.
A bit like the PC market in the 80's, solar power in 2007...
PC are dirt cheap, solar power panels are also dirt cheap (just placing them is still a scam that keeps prices a bit up). Tablets will also soon become dirt cheap as are smart phones.
...Sun Micro anno 2000...
...3DFx in the 90'es...
...DEC in the 80'es...
3DFx is a great comparison but Apple has managed to make it work.
And yet $28 billion is still only a few days worth of Bernank POMO.
seriously...after trading resumed i saw some 450 bids and 750 twice wtf
did I just see a trade at $401? o.O
High at 405.
One wonders what the dumb pipes will do to grab a piece of that pie?
Up 23 points in after-hours.
After the afterhours they will be bigger than Petro China and in another quarter will put their boot on Exxons face. Frivolous time wasters over big oil. Hoorah.
so...aapl 315 on 6/20, lets say 400 (to be reasonable /sarc) on 7/20 thats +27% in a month uhhh....
Odd that AAPL one of the few companies without supply chain disruptions.
Was Japan just an excess for a market that was already slowing down (rhetorical).
Bringing iCloud to users this fall, huh? Timely!
Once again, Apple cultists will line up for five-year old technology that is selling at a 70% premium. It's a small price to pay for tshotchkes that will affirm your self-image.
The 'eternal' quest for 'image'. The 'life-juice' of the ignorant of 'Truth'....
Its just a fucking toy. Remember life without ishit? Amish bitcheez.
When that mad max moment comes everyone will remember!
"the things you own end up owning you."-TD
62% of sales were abroad.
Here's why. Vladamir Putin is buying up all the stock of iPad2's for his "Strip for Putin" campaign pitch.
Watch and enjoy hot Russian babe action with iPods and iPads visible.
http://www.youtube.com/watch?v=1Easr8WTwxs&feature=player_embedded
My comment to that youtube video which will not be accepted:
"I love the leader! Free vodka and iPads for everyone! Just let me fit these chains around your neck and wrists...
Remember in Glorious Putin Russia, YouTube watch you! *BANG* "
People talk trash about Putin here in America.... but if the Republican party ran Putin as their candidate n 2010 i bet he would destroy Obama in a landslide!
(this is not sarcasm, which perhaps is the ultimate sarcasm)
The perennial sand baggers...
Apples market cap is now higher than exxon mobils. At this rate it will be the worlds first trillion dollar company.
"Michael...we're bigger than US Steel".
No it's not.
Once again, being a poster-child for the Bulltard lies in the denial of all that is 'Truth"....Peak Oil will soon 'awaken' those who sleep at the altar of awareness....
So we are about to come full circle, for didn't this mess started with a apple?
poor people + designer electronics. i don't get it, never have and probably never will. :marvels:
Ther's no connection to reality at all, but they all got hopium and ipads bitchez!
Question: What is it that really powers the U.S. market?
Answer: International sales.
Bad News: The rest of the U.S. is up to its eyeballs.
Unbeknownst to most Bulltards, APPL is not an American company, per-se. They are a global conglomerate. As such, markets over-value their presence on US exchanges. The US is screwed; APPL or not.
Yep. The only way Apple is a US company is an office in California.
my favorite is what it says on the back of an iphone:
"designed by apple in california assembled in china"
"International sales accounted for 62 percent of the quarter’s revenue."
It's made overseas and mostly sold overseas....I think the US is missing out on a good portion of the positive. At least the stock holders will make bank....if they sell before Jobs leaves.
AAPL, guidance and the stock market: It's like playing peek-a-boo with a baby. A sursprise even the 99th time.
LOL
quick...somebody sell me some $400 AUG AAPL puts
i have some aapl calls (july and august $400s) that i'll sell to you tomorrow ;).
I am putting all my money in AAPL, GOOG, PCLN, NFLX and never looking at the market again until I retire.
Look at LVLT too. You can owe me one.
and those hot-shots buying at $405 and $450 and $600 will sell to......? oh, silly me... the next HFT
At last the depression is over!
The proper trade is to sell/short the news and pump. Didnt they lower guidance. Watch it fade AH.
Well it appears that the FBI is doing its part by buying 600 iPads:
https://www.fbo.gov/index?s=opportunity&mode=form&id=d72242fb4a052b04501c0b1700ffcc68&tab=core&_cview=0
400 was a nice round number to sell into.. priced for perfection with a sick ceo and eu about to crumble. Short it!
Where is Middleton? This stock will make my year tomorrow.
Sticking by my dart-call that Apple will peak around $600.
There is still plenty of market share in the enterprise/corporate environment.
iLie.
One of thier plants burns downs and they have these kinds of sales.
Umm. No.
Not just No. HELL NO.
Tell me, people. What is the innovation of Iphone x+1 versue Iphone x?