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Apple Blows Away Top And Bottom Line

Tyler Durden's picture




 

The suspense can now end

  • Revenues of $46.33 billion, expected at $38.99 billion
  • EPS of $13.87, expected at $10.14
  • APPLE SEES 2Q REV. ABOUT $32.5B, EST. $31.87B
  • APPLE SEES 2Q EPS ABOUT $8.50, EST. $7.96
  • APPLE 1Q IPAD UNITS SOLD 15.43MLN , UP 111%
  • APPLE 1Q GROSS MARGIN 44.7%, EST. 40.8%             
  • APPLE SOLD 5.2 MILLION MACS DURING QTR, EST. 5.1M
  • APPLE SOLD 15.4 MILLION IPODS IN QTR, EST. 13.9M
  • APPLE SOLD 37.04 MILLION IPHONES IN THE QUARTER, REPRESENTING 128 PERCENT UNIT GROWTH
  • APPLE GENERATES $17.5 BILLION IN CASH FLOW IN THE QUARTER

From the release:

Apple® today announced financial results for its fiscal 2012 first quarter which spanned 14 weeks and ended December 31, 2011. The Company posted record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, or $13.87 per diluted share. These results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, in the year-ago quarter. Gross margin was 44.7 percent compared to 38.5 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

The Company sold 37.04 million iPhones in the quarter, representing 128 percent unit growth over the year-ago quarter. Apple sold 15.43 million iPads during the quarter, a 111 percent unit increase over the year-ago quarter. The Company sold 5.2 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter. Apple sold 15.4 million iPods, a 21 percent unit decline from the year-ago quarter.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Tim Cook, Apple’s CEO. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

“We are very happy to have generated over $17.5 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO.

“Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5 billion and we expect diluted earnings per share of about $8.50.”

Apple will provide live streaming of its Q1 2012 financial results conference call beginning at 2:00 p.m. PST on January 24, 2012 at www.apple.com/quicktime/qtv/earningsq112. This webcast will also be available for replay for approximately two weeks thereafter.

 

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Tue, 01/24/2012 - 17:31 | 2094010 slaughterer
slaughterer's picture

That's a blow out!  Steve is proud.  

Tue, 01/24/2012 - 17:40 | 2094052 francis_sawyer
francis_sawyer's picture

They're jumping off buildings at Foxconn to celebrate the good news!

Tue, 01/24/2012 - 18:10 | 2094062 hedgeless_horseman
hedgeless_horseman's picture

 

 

Be nice.  That's just how they negotiate pricing in their culture.  It is unlikely that management/ownership was actually going to have them jump.

Besides, we can no longer make that kind of quality high tech product in the USA, plus we owe them money...bunches of it, so please don't say anything to piss off the chi.coms...or the Saudis, Nigerians, Mexicans, Russians...and especially don't piss off the Canadians.

 

Tue, 01/24/2012 - 18:10 | 2094228 notbot
notbot's picture

Reggie!!!!!!!!!!!!!!!!!! 

Tue, 01/24/2012 - 21:33 | 2094757 Popo
Popo's picture

Reggie keeps trying to pretend that "Android" is Apple's primary competitor -- forgetting that Apple is a hardware manufacturer with a massive media sales-channel and Android is a security-challenged, free operating system, which barely makes any revenue. Apples and Oranges, Reggie.

Tue, 01/24/2012 - 23:22 | 2095201 NoClueSneaker
NoClueSneaker's picture

... Reggie is on the spot. Lemmings effect, nothing more...

 

SAS Controller for Mac, anywhere ? :-P

 

Tue, 01/24/2012 - 18:31 | 2094299 JenkinsLane
JenkinsLane's picture

Quality

Thu, 01/26/2012 - 02:58 | 2098956 darkhorse222
darkhorse222's picture

idiot- HP. Dell, etc use foxconn also  ALL PCs are made in China DWI-Deal with it instead of whining

Tue, 01/24/2012 - 18:10 | 2094229 i root for that...
i root for that fat jersey governor's picture

just posted this under the "eur/usd rally failed to inspire"

"apple's earning plus the momentum is going to bring the volume back tomorrow and finally break "bears" spine. LTRO is already working - it is up to the losers to believe or not to believe it :-) "

wake up people!!!

Tue, 01/24/2012 - 17:33 | 2094013 RacerX
RacerX's picture

Wow! Good thing I'm short this market. Time to start drinking heavily..

Tue, 01/24/2012 - 17:43 | 2094073 Buckaroo Banzai
Buckaroo Banzai's picture

Reggie Middleton is wondering what went wrong.

Love ya Reggie but I couldn't resist.

Tue, 01/24/2012 - 17:48 | 2094107 WonderDawg
WonderDawg's picture

No big deal, it's priced in.

Tue, 01/24/2012 - 18:51 | 2094364 tekhneek
tekhneek's picture

Yeah, priced in at +8% in after market trading.

 

Tue, 01/24/2012 - 18:50 | 2094360 I am a Man I am...
I am a Man I am Forty's picture

I tried and tried and tried to convince Reggie that he didn't know what he was talking about, I like him, wanted him to save face and not embarrass himself all over the world.  You can lead a horse to water but you can't make him drink.  Oh well, I thought I was late to the game being DCA'd in at $220.  I wasn't.  

 

Touchdown dance!  Touchdown dance!!

Tue, 01/24/2012 - 22:41 | 2095002 imaginalis
imaginalis's picture

Reggie should avoid any analysis of Apple because he can't be objective or impartial while being a Windows fanboy from the 80's. 

Tue, 01/24/2012 - 17:33 | 2094014 No One
No One's picture

Holy Shit! Dow 36,000!!! The peeps are spending!!!

 

or, I didn't know food stamps could be used for iThings

Tue, 01/24/2012 - 17:56 | 2094158 baby_BLYTHE
baby_BLYTHE's picture

print the money. Hand it out to criminal bankers. Ramp the living daylights out of the stock market... yeah, DOW 36,000... good lucking passing off $10/gallon at the pump and $1,000 grocery bills to the people.

Tue, 01/24/2012 - 17:59 | 2094164 kito
kito's picture

sorry blythe, i love ya but hyperinflation aint happening..............

Tue, 01/24/2012 - 18:21 | 2094209 baby_BLYTHE
baby_BLYTHE's picture

didn't say it would. I view Hyper-Deflation and Hyper-Inflation as essentially the same thing as either scenario means society would fall apart and the rule of law suspended, in that environment no one really knows how things would play out in terms of our monetary system. Without the rule of law the enforcement of contracts isn't guaranteed so it's hard to predict whether or not the dollar would survive. I am just warning the DOW 36,000 crowd not to count on the currency being worth much under that scenario.

Tue, 01/24/2012 - 21:44 | 2094776 spiral_eyes
spiral_eyes's picture

hyperinflation can happen with a breakdown in the physical economy. with america more dependent on foreign goods, oil and components than ever, and a whole host of conflicts brewing around the world, this is entirely plausible.

http://azizonomics.com/2011/08/15/why-qe-didnt-cause-hyperinflation-2/

Wed, 01/25/2012 - 12:41 | 2096495 Ben Dover
Ben Dover's picture

So, my going long in bicycles is a good thing?

Tue, 01/24/2012 - 17:33 | 2094017 DavidC
DavidC's picture

Hmm, tells you what Apple's DONE, not what it's going to do.

DavidC

Tue, 01/24/2012 - 17:37 | 2094034 WonderDawg
WonderDawg's picture

Yes, that's why they're called results, not projections.

Tue, 01/24/2012 - 17:39 | 2094051 DavidC
DavidC's picture

My point precisely.

DavidC

Tue, 01/24/2012 - 18:17 | 2094245 FMR Bankster
FMR Bankster's picture

The key here is the people. Can they keep them now that Jobs is gone. Cook is valuable but Jony Ive and his crew are where the products will come from. Now that they have a huge revenue number they have to keep on the cutting edge or the growth curve will collapse on them. In tech you can either inovate or die.

Tue, 01/24/2012 - 18:46 | 2094346 Spastica Rex
Spastica Rex's picture

Or market.

Tue, 01/24/2012 - 17:34 | 2094018 slaughterer
slaughterer's picture

AAPL ===>> $450 and above in a few minutes.  

Tue, 01/24/2012 - 17:34 | 2094020 I am a Man I am...
I am a Man I am Forty's picture

FUCK YES!!!!!!!!!!!!!!!!!!!!!!!!!

Tue, 01/24/2012 - 17:34 | 2094022 Gubbmint Cheese
Gubbmint Cheese's picture

Apple back to being world's biggest company... wow.

insane.

Tue, 01/24/2012 - 17:45 | 2094082 alien-IQ
alien-IQ's picture

watch it open at $450 @ 4:50.

I wouldn't be surprised to see it hit 475 or more. Wow.

Tue, 01/24/2012 - 18:52 | 2094376 tekhneek
tekhneek's picture

You had to see this coming though... everyone knows people don't buy anything besides Apple products.

Next quarter will probably crush this one too. Peeps gettin' tax returns.

Tue, 01/24/2012 - 17:35 | 2094024 nudlee
nudlee's picture

IRiskOn

Tue, 01/24/2012 - 17:35 | 2094027 slaughterer
slaughterer's picture

Mkt cap above XOM tomorrow....

Tue, 01/24/2012 - 17:36 | 2094030 Irish66
Irish66's picture

They could buy Europe

Tue, 01/24/2012 - 18:48 | 2094349 Roy T
Roy T's picture

That is an excellent suggestion.

Instead of the IMF going hat in hand to Brazil, China, etc, they should just go begging to Tim Cook to increase their "firepower"

 

 

 

Tue, 01/24/2012 - 19:00 | 2094395 hedgeless_horseman
hedgeless_horseman's picture

 

 

They could by Congress and the POTUS.

Tue, 01/24/2012 - 17:36 | 2094033 Stuart
Stuart's picture

Long live the Mac....   solid numbers. 

Tue, 01/24/2012 - 17:38 | 2094036 LouisDega
LouisDega's picture

Well, There it is. It must be that Mac pro i just bought. Expensive fucker. Over 6 large.

Tue, 01/24/2012 - 17:38 | 2094049 alien-IQ
alien-IQ's picture

Expensive, yes. But it's one hell of a machine.

Tue, 01/24/2012 - 18:06 | 2094086 LouisDega
LouisDega's picture

Its an imaculate beast. I cried when i opened the side cover. A total marvel of human endeavour. To quote Salieri when he looked at Mozarts music on paper, " I was staring at an absolute beauty". 

Tue, 01/24/2012 - 18:20 | 2094256 alien-IQ
alien-IQ's picture

You'll get much use from it. I've been using Mac for a long time. Simply great machines. In more than 10 years of use, I've never once had to call tech support. It's been flawless. And I work it to death...but it just keeps on chugging. Worth every dime.

Tue, 01/24/2012 - 18:50 | 2094348 LouisDega
LouisDega's picture

Its a beautiful thing. A toast.  May you you enjoy it for many more years. 

Tue, 01/24/2012 - 18:51 | 2094363 Spastica Rex
Spastica Rex's picture

I owned Macs from the about LC520 era to about 3 years ago when my 4 year old iMac died. They were all fine except for the last one and a Lombard laptop from around the turn of the century. They were just fucking computers. Will never own another one. Now I just swap bad parts out of my white box machines and run Linux. I also rescue old bicycles from thrift shops.

Tue, 01/24/2012 - 19:12 | 2094440 kito
kito's picture

the touch screen on my ipad isnt responding. any suggestions spas?

Tue, 01/24/2012 - 19:17 | 2094458 Spastica Rex
Spastica Rex's picture

Hit it with a hammer.

No, don't do that Kito, I was kidding.

Tue, 01/24/2012 - 17:37 | 2094037 alien-IQ
alien-IQ's picture

wow.

and the /ES is popping higher on this news also because...just because... (although AAPL trading down all day didn't seem to affect the /ES...but now)

Tue, 01/24/2012 - 17:38 | 2094038 LeBalance
LeBalance's picture

comment on suspence and sentence structure removed as it is irrelevant.

Tue, 01/24/2012 - 17:38 | 2094039 slaughterer
slaughterer's picture

If Ben gives us QE3 tomorrow, SPX to 1400 by next week.  

Tue, 01/24/2012 - 17:37 | 2094041 Reese Bobby
Reese Bobby's picture

Bullish for DELL!

Tue, 01/24/2012 - 17:38 | 2094043 Cursive
Cursive's picture

Is there sn app for too much debt and systemic risk?

(typed this on my already antiquated 3G I-phone)

Tue, 01/24/2012 - 17:39 | 2094044 kito
kito's picture

so much for rosenbergs insistence there is a Depression going on.........

Tue, 01/24/2012 - 17:43 | 2094067 Reese Bobby
Reese Bobby's picture

What wisdom!  Way to go business pro...way to go!

Tue, 01/24/2012 - 18:07 | 2094208 Teamtc321
Teamtc321's picture

Way to go ultimate trader, way to go!!!

Tue, 01/24/2012 - 17:44 | 2094076 bob_dabolina
bob_dabolina's picture

ANY company can be profitable when using slave labor. 

Tue, 01/24/2012 - 18:32 | 2094306 JenkinsLane
JenkinsLane's picture

The Bridge on the River Kwai's EPS is up 23% this quarter!

Tue, 01/24/2012 - 19:00 | 2094398 Spastica Rex
Spastica Rex's picture

If only Americans could be happy in their work.

Tue, 01/24/2012 - 18:54 | 2094375 Widowmaker
Widowmaker's picture

What about a country that sends its youth to perish in the military for 100% bullshit wars and fraud prosperity?

Last I checked the wrongful deaths from Desert Fuckups Inc. passed any sort of Communist factory by an order of magnitude.

Perhaps you should check who is REALLY paying your economic bills.

Tue, 01/24/2012 - 21:29 | 2094750 Buckaroo Banzai
Buckaroo Banzai's picture

What corporation that does business in China doesn't use slave labor? Every product you buy these days is made by slaves.

Tue, 01/24/2012 - 17:48 | 2094105 Cursive
Cursive's picture

@kito

Did people stop going to the movies during the Great Depression? Were theaters empty for "Gone With the Wind" or "The Wizard of Oz?"

Tue, 01/24/2012 - 18:17 | 2094247 Randall Cabot
Randall Cabot's picture

They were for Wizard of Oz.

Tue, 01/24/2012 - 18:30 | 2094294 kito
kito's picture

shirley youre not comparing a visit to the movies with a $400+ i_______??????? 

i am not robo. i have mocked him for claiming the consumer "is stronger than ever". but certainly we are NOT in a depression. the stock market keeps the 401kers/ira-ers/public pensioneers feeling wealthy, something the average person didnt have during the 1930s. the poor have the govt taking care of housing, food, stipends, etc--again, something that wasnt available in the 1930s. soo puhhlease----when the market tanks and the govt takes away the cheese, then we can talk Depression.  

Tue, 01/24/2012 - 18:35 | 2094316 Stack Trace
Stack Trace's picture

Where is the government getting the cheese?

Tue, 01/24/2012 - 18:40 | 2094326 fonzannoon
fonzannoon's picture

and when is the market tanking?

Tue, 01/24/2012 - 18:58 | 2094390 Cursive
Cursive's picture

@kito

You mistake consumption and debt for wealth. Greenspan's credit bubble is deflating. I suggest you make the best use of the unwind time.

Tue, 01/24/2012 - 19:18 | 2094462 kito
kito's picture

@cursive  you mistake depression for govt fed happiness............

Tue, 01/24/2012 - 17:59 | 2094166 slaughterer
slaughterer's picture

Rosenberg is a pancake-eating monster rolled out to sucker shorts into their shorts.  Welcome to the bear graveyard David.  

Tue, 01/24/2012 - 18:19 | 2094255 Reese Bobby
Reese Bobby's picture

Just stunning/clueless.  Rosie was long duration when ZH laughed at him and he got PM's right as well.  Maybe someday you'll understand how much money those calls made anyone who listened.  Then again, probably not.  Enjoy poverty.

Tue, 01/24/2012 - 18:28 | 2094283 slaughterer
slaughterer's picture

How long ago were those Rosie calls?  How many buttery goopy pancakes has he eaten since then?

Tue, 01/24/2012 - 18:43 | 2094340 Reese Bobby
Reese Bobby's picture

That makes a lot of sense.  Thanks for sharing.

Tue, 01/24/2012 - 19:02 | 2094404 Spastica Rex
Spastica Rex's picture

Well, not for everbody. Come to my house for dinner some night and we'll have beans and rice and talk about it.

Tue, 01/24/2012 - 17:39 | 2094045 Dr. Engali
Dr. Engali's picture

Must be feeding the masses with iPads.

Tue, 01/24/2012 - 17:39 | 2094046 LawsofPhysics
LawsofPhysics's picture

This good news, so I guess this means that the market will sell off then.

Tue, 01/24/2012 - 17:43 | 2094059 niktamere
niktamere's picture

InverseCNBC working out quite well -- Cramerrr (Seinfeld voice)

Tue, 01/24/2012 - 17:42 | 2094064 time2blowitup
time2blowitup's picture

ES through the roof tomorrow..VIX 17..

Tue, 01/24/2012 - 17:43 | 2094065 hotkarlandthecl...
hotkarlandtheclevelandsteamers's picture

Where is our pal Reggie Googleton.

Tue, 01/24/2012 - 17:42 | 2094066 Calmyourself
Calmyourself's picture

Wow, I got here before robo and I am at work...  He will jump up and down on this, everything is fixed go back to sleep theres a good little sheep..

Tue, 01/24/2012 - 17:43 | 2094072 The Fonz...befo...
The Fonz...before shark jump's picture

I know Maria Bartiromo just climaxed on the air...oh wowo woow wowo wow let the good times roll again a company making luxury tech devices for people who can barely afford their rent just made a killing...

 

on a side note this steve liesman show I am the Fed is insulting...I want to punch him square in face

Tue, 01/24/2012 - 17:47 | 2094089 disabledvet
disabledvet's picture

Man I wished I saw/heard that. Damn kids and their video games...

Tue, 01/24/2012 - 17:44 | 2094075 disabledvet
disabledvet's picture

Jeff Immelt? YOU'RE FIRED. I mean Steve Jobs walks right into the White House...tells our current President "Phuck your job problem"...dies a horrible death mere months later...and "the rest they say is history."

Tue, 01/24/2012 - 17:48 | 2094078 Bob
Bob's picture

Thank God for offshoring everything--production and untaxed revenue in particular--except its name as an "American" Corporate Icon. 

I'd like to see a bullet burried in that pretty little apple-cute head. 

But that's just me. 

I've been told I lack consumer bedazzlement. 

Tue, 01/24/2012 - 17:46 | 2094079 Voodoo-economist
Voodoo-economist's picture

geez, all that cash ... should have gone to commodore :)

Tue, 01/24/2012 - 17:47 | 2094088 godzila
godzila's picture

Holly crap - amazing - really !

Tue, 01/24/2012 - 17:47 | 2094095 time2blowitup
time2blowitup's picture

Granville just got Lavorgna'd

Tue, 01/24/2012 - 17:47 | 2094098 toros
toros's picture

Where Reggie?

Tue, 01/24/2012 - 18:03 | 2094183 slaughterer
slaughterer's picture

AAPL is shoveling Reggie into his plot in the bear graveyard, alongside Rosenberg, Janjuah, Morgan Stanley, Joe Granville, Soros, etc.  

Tue, 01/24/2012 - 18:06 | 2094203 fonzannoon
fonzannoon's picture

It's true. Those guys will be pulling a Bill Gross next week and changing their calls. The funny thing is Gross is now stuffed with treasuries and will eat another shit sandwich when the ten year is 2.75.

Tue, 01/24/2012 - 18:48 | 2094352 homersimpson
homersimpson's picture

In all fairness to Reggie, throughout the past few years, only ONE time he's said to short AAPL (and that's through his pay service)  - and that was when recently where AAPL didn't meet the street. Folks still forget what he says for free differs from what his pay analysis consists of.

Obviously, Reggie is not a AAPL fan - but if you're going to make fun of him, at least be accurate in regards to how many times he said to short AAPL. He provided evidence on why he thought AAPL was not a good buy in the long run, but unfortunately for him, the quarterly numbers for the most part have obviously made him look bad.

Bottom line: No one is correct all the time - but I'll take his analysis over 99% of the stuff I read any day of the week. It's not like he pulls a Robotard and pulls only after-the-fact data.

Besides - I have no vested interest in AAPL other than the fact I do own an iPod Touch and Nano - but if analysts really were even remotely accurate about AAPL's earning the past 14 or so quarters, do you really think AAPL would be at 450 by now? AAPL has a history of sandbagging their earnings every quarter - so why is it such a surprise they made so much money? We all know they'd make their billions, but constantly being "amazed" about 14 quarters in a row? Cmon - Estimates of 10.13/share vs actual 13.87/share? Can the analysts be any more dense with their earning estimates?

On that note, every publicly traded company should just set their profit outlook to $1, and when earnings come out, they look AMAZED and ASTONISHED for making so much money the past quarter over "estimated" earnings. I'm sure their respective stock prices will be at 450 ASAP.

Tue, 01/24/2012 - 17:49 | 2094110 Ag1761
Ag1761's picture

How much of a tax rebate will that qtr result generate apple then?

Tue, 01/24/2012 - 17:50 | 2094115 Lotus
Lotus's picture

now if everybody threw their food stamps up in the air at once it would be like a big confetti party.

Tue, 01/24/2012 - 18:19 | 2094116 prains
prains's picture

too bad apple can't build an ieconomy

Tue, 01/24/2012 - 17:52 | 2094129 Bunga Bunga
Bunga Bunga's picture

And you can eat apples!

Tue, 01/24/2012 - 17:54 | 2094134 The Fonz...befo...
The Fonz...before shark jump's picture

anyone wanna bet Obama starts touting APPLE in the state of the union tonight??

Tue, 01/24/2012 - 18:02 | 2094178 WonderDawg
WonderDawg's picture

Damn right he will. Hopey will take credit for the results, but never mention the slave labor that makes the products, nor their suicidal tendencies.

Tue, 01/24/2012 - 20:36 | 2094652 luna_man
luna_man's picture

 

 

"The Fonz...befo..."

 

Since you brought up "Obama", have you noticed, how the markets, take a "nose dive", the day after his speech?...

"BEARISH"!  I AM

Tue, 01/24/2012 - 17:55 | 2094143 jeff314
jeff314's picture

No need for QE3 now all is fine...

Tue, 01/24/2012 - 17:55 | 2094144 godzila
godzila's picture

Seriously what's the point of having $100bn in cash ? Time for dividend IMHO !

Tue, 01/24/2012 - 18:12 | 2094236 alien-IQ
alien-IQ's picture

100 billion in cash and no Debt means never having to ask for a bailout.

Tue, 01/24/2012 - 17:55 | 2094146 sabra1
sabra1's picture

this is why nasdaqs' been up all week! frontrun the inside info, sell it to the pleebs tomorrow!

Tue, 01/24/2012 - 18:05 | 2094177 Randall Cabot
Randall Cabot's picture

Other techs down in AH: altr,yhoo,amd

 

and aapl only up 8%

Tue, 01/24/2012 - 17:59 | 2094157 DoctoRx
DoctoRx's picture

Where's Reggie Middleton now?

Methinks he blew it, always touting GOOG and dissing AAPL.

Cry uncle on AAPL, Reggie-  perhaps you should stick to analyzing financial companies, countries and the like.  You seem to be pretty darn good in that sphere.

Tue, 01/24/2012 - 17:57 | 2094159 element115
element115's picture

I guess Reggie got blowtorched AND monkey hammered.

Carted out feet first, no doubt.

Now to go get me a RIMMjob.

Tue, 01/24/2012 - 18:00 | 2094172 notadouche
notadouche's picture

REGGIE, REGGIE, REGGIE!!!!!!  Where is Reggie Middleton crowing about how great it has been to be short Apple and the companies margins were going to hell in a hand basket yada yada yada.  I mean you get all public and crow when Apple only tramples it's earnings and the stock goes down a slight bit but lets see you come out with your chars and commentary and start eating that crow.

Tue, 01/24/2012 - 18:20 | 2094192 slaughterer
slaughterer's picture

Does Reggie really know how to do his homework? Guess not.  Too much fame and CNBC bright lights clouds the mind.  

Tue, 01/24/2012 - 18:10 | 2094225 alien-IQ
alien-IQ's picture

While he's been wrong about AAPL, and I've given him shit about it, I wouldn't rag on him too much. He's sharp as hell and he's right more often than he's wrong. Reggie is a good guy...despite his Apple thing.

Tue, 01/24/2012 - 18:01 | 2094175 thedrickster
thedrickster's picture

Yum....iPads.

Best with Tabasco IMHO.

Tue, 01/24/2012 - 18:02 | 2094184 robertocarlos
robertocarlos's picture

I bought 2 Playbooks.

Tue, 01/24/2012 - 18:29 | 2094195 NuYawkFrankie
NuYawkFrankie's picture

Hey, this  story just reminded me: I'm typing this message on a Radio Shack TRS-80 (1984 vintage). I'm looking to upgrade (can't seem to get a replacement Chiclet keyboard: anyone know where I can get hold of a  old MAC 1 - must have had no more than 5 previous owners /  floppy-drive a must (pssttt.... I just DISKovered a stack of slightly used 512K double-density diskettes under the bed!)

tia.

 

Tue, 01/24/2012 - 18:07 | 2094211 Catullus
Catullus's picture

Ramp jobs for all will be had.

Tue, 01/24/2012 - 19:08 | 2094214 Widowmaker
Widowmaker's picture

Where is inverse-Middleton to bullshit about margin compression and increased competition?

*crickets*

...no where to be found...

Short AAPL and long GOOG?  Double penetration from the "analysts."  Even Joe 6er could see this coming, but the best and brightest blowhards can't conjure anything but wreckless drivel.

Just last week I put the Middleton year on a silver platter without bullshit and lies: 

http://www.zerohedge.com/contributed/few-quick-comments-goldmans-q4-2011...

Booked the year in 24 days - not bad but not a record.

Middleton credibility is that of a gypsy car salesman.

Tue, 01/24/2012 - 18:29 | 2094292 Centauri
Centauri's picture

REGGIE REGGIE REGGIE

 

Heh heh. That self-blow job he gave after 4Q was hilarious. 

Tue, 01/24/2012 - 18:58 | 2094320 NuYawkFrankie
NuYawkFrankie's picture

May as well jump on the bandwagon:

O Reginald, Reginald! Wherefore art thou Reginald?

Methinks, sirrah,  thou mighest be plighting thy troth to a fair maiden that ye didst encounter on a Reggie Booze Cruise..

Tue, 01/24/2012 - 18:48 | 2094343 walküre
walküre's picture

AAPL will need to ship a whole lot more to make up for the continued losses on BDIY ...

Don't get me wrong. I like AAPL. Like the story, the product and the support. However, it is an anomaly in this economy. They make good stuff. Good stuff always sells.

Now, can we please find out where AAPL has been selling their product mostly? And how does the success of AAPL fare against the losses at their competitors? Mainly RIM which is on its death bed.

AAPL is neither reflective of this earnings season, nor is it reflective of the general economy. But let's all cheer for a day!

Go AAPL!

Tue, 01/24/2012 - 18:54 | 2094377 catacl1sm
catacl1sm's picture

If you compare today's Blackberry to 7 yrs ago, it's essentially the same shitty product, with a color screen. Of course, it wasn't shitty 7 yrs ago. It got shitty cause everything else got better.

Tue, 01/24/2012 - 19:56 | 2094559 walküre
walküre's picture

It's actually still a pretty good product. The keyboard still rocks. But I get what you're saying. And the Iphone x will be equally boring in 2017. Will be interesting to see how AAPL divests itself with all that cash they're supposedly hoarding.

Tue, 01/24/2012 - 18:48 | 2094353 ebworthen
ebworthen's picture

After the ramp tomorrow SELL, SELL, SELL.

This is the peak post Steve Jobs.

Is it possible they keep innovating and going higher?  Maybe.

Is it likely that they can with Jobs gone?  I wouldn't bet on it.

Tue, 01/24/2012 - 18:49 | 2094355 MFL8240
MFL8240's picture

Great news for all the Chinese workers.

Tue, 01/24/2012 - 19:01 | 2094356 Stack Trace
Stack Trace's picture

These results make me bullish on my own company. We are an iOS shop and almost exclusively write iPhone software.

We decided this path after technically analyzing the major players in 2009. Was a big gamble but now we see Crazy huge demand for apps. My partner and I are meeting with investors and they tend to gush over you when you show them apps you have developed. Problem is we don't want to be diluted out of ownership so we are trying to navigate through this delicate stage. In fact the reason I found Zerohedge was because of Reggie Middleton articles on his technical research (which I don't agree with). My company has a fewvFortune 100 companies hiring our consulting business (me :-)) and all they want are iOS apps...period. There are numerous reasons Android and Windows Phone will not win...the biggest being is app developers have a hard time making money there.. coming from someone that knows...an app developer.

We are 4 to 6 months of releasing our first major game title. Hopefully this momentum continues with Apple so we can ride the wave.

On the flip side...various Corporate enterprise Projects in our pipeline have come to a screaming halt....huge pricing pressure, frozen budgets, confusion, etc... So there is huge "demand/desire" for apps but no money or our clients don't seem to have coherent mobility strategies and so they throw money at cheap gimmicks (meaning I wonder at the sustainability of our work pipeline...daily)

So while clients demand apps for iOS almost exclusively they don't want to pay much more than Bangledesh prices, don't have coherent plans, and budgets at risk seemingly ready to evaporate on the next bit of bad news.

Tue, 01/24/2012 - 19:48 | 2094517 ebworthen
ebworthen's picture

Stack Trace

Joking yesterday on ZH I thought of an app:

"RIM is on it's way back to green!  Just wait until they come out with the T9 rotary dial txting app!

(Oh hell, I should copyright that idea right here, my idea, mine, app that lets you rotary dial a number using the touchscreen on your smart phone and picture of an old rotary dial phone)."

It might be a gimmick, but it might be fun too, complete with sound effects.

"Shhuu-cuuk...tack-tack-tack-tack" (that was a 4 being dialed).

Run with it, just send me some Gold Austrian Philharmonics or something.

<<Update>> Already been made, dangit.<<<Update>>>

http://www.youtube.com/watch?v=YBLZHZAzWYY

Tue, 01/24/2012 - 18:51 | 2094366 catacl1sm
catacl1sm's picture

Who's to say AAPL isn't making their numbers up, to the benefit of insiders before it all comes crashing down. Just a thought, they wouldn't be the first...

It's probably people stocking up on iCrap so that they have something to eat when the economy crashes.

Tue, 01/24/2012 - 18:51 | 2094369 Magnix
Magnix's picture

APPLE SUCKS!

Tue, 01/24/2012 - 18:54 | 2094379 YesWeKahn
YesWeKahn's picture

I think Cook has an agenda to annonce such as blow out earnings. We will see a short run to 500 and they will start paying a divi

Tue, 01/24/2012 - 18:57 | 2094387 xela2200
xela2200's picture

The legacy of yet another great imperfect businessman.

http://www.youtube.com/watch?v=lEyrivrjAuU

Tue, 01/24/2012 - 19:02 | 2094406 NuYawkFrankie
NuYawkFrankie's picture

Apple - a One-Trick Pony!

Don't believe me? Just wait 'til Steve Jobs ain't around anymore.

Tue, 01/24/2012 - 19:05 | 2094412 Spastica Rex
Spastica Rex's picture

I think what this demonstrates is that the 20% are doing just fine.

Tue, 01/24/2012 - 19:24 | 2094474 Saxxon
Saxxon's picture

AAPL is virtually a toy store.  SPY has topped here, AAPL to follow anon.

Tue, 01/24/2012 - 20:49 | 2094674 bill1102inf
bill1102inf's picture

Fed Gov should topple this giant. 200% import tarrif. Factories would open in US.  Profit margin would be reduced but still exist.

Wed, 01/25/2012 - 06:40 | 2095735 prole
prole's picture

I agree. The last thing we want is a successful enterprise. Best to shut it down. Let's go with the 200% tariff on all Honda and Toyota products as well. And no more German cars either. Factories would open in the US.

Tue, 01/24/2012 - 22:02 | 2094809 quacker
quacker's picture

The United States needs savings, investment and production. Nothing about higher Apple profits helps achieve this.

Apple is part of the ponzi, not the solution. If these profits were even tripled, we would only be worse off for it:

More fractional created debt spread out to more sheeple, more printed up fiat flowing into the hands of the global elite, and all without a single US job created in the process.

Apple profits are an artifact of our dispair, the more they make, the worse the ponzi gets - hard for some to fathom, but true.

Tue, 01/24/2012 - 22:08 | 2094823 dolph9
dolph9's picture

This is a country that once built railroads and interstate highways and cars and airplanes.  It's a country that fought off two fascist military powers across the world.  It's a country that went to the fucking moon.  And all of this on a gold monetary standard.

And now we celebrate - toys.  Nice, shiny, fancy toys, but toys nonetheless.  Toys designed by a few yuppies in California and actually made by slave girls in China.

And we struggle against a bunch of sheep herders in the desert.

Not saying it's good or bad, people.  In fact, I respect Apple.  But the decline is palpable.

Wed, 01/25/2012 - 06:51 | 2095739 prole
prole's picture

"Fought off" sounds like "defended against the invasions of" so can you remind me which "two fascist military powers" invaded "this country?"

and as far as

"we struggle against a bunch of sheep herders in the desert"

who the Hell is "we?" You may be killing a bunch of herders in the desert, God knows why, but I certainly have no struggle, problem, distaste or any unkind feelings of any nature for those who herd sheep in the desert. Please stop killing them TIA.

And as far as going to the moon, can I have my money back for that stupid boondoggle?

 

Tue, 01/24/2012 - 22:31 | 2094957 Totentänzerlied
Totentänzerlied's picture

Perhaps you can eat iPad... yeah who needs a savings/retirement account balance when you could have (more, overpriced) plastic junk?

It is not hyperbole to state that the time preference of the average adult consumer is identical to that of a 5 year old choosing between a savings bond and a supersoaker.

Wed, 01/25/2012 - 01:01 | 2095453 adr
adr's picture

One of the best ways to fake sales is to own your own retail channel to sell to. Apple has been faking sales for years. Not that they don't sell a ton of product, just nowhere near what they claim. How many of those "sold" iDevices do you think sit unsold in the warehouses of Best Buy, Walmart, etc. Channel stuffing isn't just for GM. Nike is famous for making retailers take 100 units of product they don't want just to sell the 10 they want. Those mini Apple stores in Best Buy are there for a reason, you want to sell Apple well then you need to take 10X what you think you'll sell for the privilage of carrying the brand. Retailers hate Apple because they make no margin and are more or less forced to carry iCrap. Target creating mini Apple stores is about one thing, channel stuffing to pump Apple stock. Apple's reported sales are beginning to look like the reported Vietnam war bombing death toll. Where we counted enough deaths to kill the population 5X over but the bombs never really hit any targets. Pretty soon Apple will have sold an iPhone to every American 6X over even if they never bought one. Believe it, don't believe it. I don't give a shit because I know I'm right because I've seen the retail BS con game over and over time after time. Every earnings report is a total sham

Wed, 01/25/2012 - 01:54 | 2095546 Yen Cross
Yen Cross's picture

If , and I am suggesting if.  I am buying all my debt back. Cost of money and all.

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