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Apple Misses
The inconceivable just happened:
- APPLE 4Q REV. $28.27B, EST. $29.60B
- APPLE 4Q EPS $7.05, EST. $7.31
- APPLE SOLD 11.12 MILLION IPADS DURING QTR, EST. 11.5M
- APPLE SOLD 17.07 MILLION IPHONES IN QTR, EST. 20M :
And for the first time ever, Apple is a mortal company, and instead of sandbagging forecasts, now projects more than the consensus:
- Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30
- The street: Revenue at $36.776, EPS at $9.017
Sad.
From the release:
The Company sold 17.07 million iPhones in the quarter, representing 21
percent unit growth over the year-ago quarter. Apple sold 11.12 million
iPads during the quarter, a 166 percent unit increase over the year-ago
quarter. The Company sold 4.89 million Macs during the quarter, a 26
percent unit increase over the year-ago quarter. Apple sold 6.62 million
iPods, a 27 percent unit decline from the year-ago quarter.
“We are thrilled with the very strong finish of an outstanding fiscal
2011, growing annual revenue to $108 billion and growing earnings to $26
billion,” said Tim Cook, Apple’s CEO. “Customer response to iPhone 4S
has been fantastic, we have strong momentum going into the holiday
season, and we remain really enthusiastic about our product pipeline.”
Stock after hours:
And as a reminder, more hedge funds hold Apple than any other stock:
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oh boy
Yeah they are going to blame it on the millions of slave workers at Foxconn that could not produce them fast enough.
My Mom shes 67... "Its so sad that Steve Jobs died, he was such a great man."
Me "Yeah such a great guy, Foxconn had to install nets to catch the workers building ipads, from going splat when they try to kill themselves."
Her.. "whats wrong with you?"
Had same unfortunate conversation with my wife who is also a apple nut.
truth is hard.
So is the floor at Foxconn.
http://www.youtube.com/watch?v=6zXDo4dL7SU&NR=1
Looks like a number of financials are also tanking after hours. Annnnddddd... it's gone.
So is the beat down coming to OWS.
More OWS Thoughts
ori
"Workers were also forced to sign a legally binding document guaranteeing that they would not kill themselves"
lol
and once they kill themselves, they're not legally bound.
Whatever deal Steve Jobs struck with the devil clearly terminated at his death.
They could have QUIT.....i don't think Steve Jobs was forcing them into the factory each day.......labor is a market just like anything else.....and wages are too high right now......
Quit and gone to some other nightmare factory? It's not just Apple. The whole globalization model is built on the backs of foreign workers. Treating people as commodities is a problem.
Treating $20/hr pay as a human right is worse
It's not Steve Job's fault capitalism works in a communist country...
Wow Warren that's some KOOLAID. I love all his warm and fuzzy comments about dying and what's important. That guy was a master BULLSHIT ARTIST if I've ever seen one.
The koolaid drinking is alot like peoples IGNORANCE over the FED.
+1
Why is there no windfall profits taxes on profiteering Apple who ra*e dumb libs into buying overpriced iGadgets made with slave labour? Ditto Starbucks and their goughing and profiteering by selling $6 cups of coffee to simpleton's who voted for the muslim.
This is bullish.
DB Dillusional Bull!
Bearings aren't even good at sarcasm...
Doesnt matter maxmad, see the only thing that matters world-market wide right now is who will promise who free trillions....while WW3 is cooking off in the background.
Markets=irrelevant.
No, they will always blame the departing executive - Steve Jobs. When in doubt, blame the dead guy.
The dream is over.
This is the end of civilization as we know it.
The great decline has just begun.
Women and children to the lifeboats.
This is a day that will live in infamy.
That should pretty well cover it.
I cannot see that chart that Tyler posted with AH prices. Looks like a huge drop.
That is a really nice read for me, Must admit that you are one out of the top bloggers I ever saw.Thanks for posting that informative article. Luton airport parking and if you are looking for some best deals on meet and greet parking services you can get easily but im sure you need to eat some delicious things for that you need to learn sushi recipes
just waiting for France and The Guardian to comment so i know which way to fade
update: France is going to Lever AAPL 5x, so the earnings are actually $35/share
(system dbl-posted my comment - sorry for this erroneous post)
HOLY COW!
William 'Let Them Eat iPad2' Dudley is worried now, friends.
(or is he?)
*Apple, the company that ALWAYS & PERPETUALLY soft sells future rev/eps, only missed those honest sell sider boys of Wall Street forecasted revenue by approx 9 billion USD. Sheesh. /iSarc
+1 ROR I can't stop raffing! Thank you for that!
That was incredible. That guy was HORRIBLE.
http://canv.as/ugc/original/81efa1b19ca13100e15b4c75c67c5f0767662100.jpeg
http://canv.as/ugc/original/26f708392c161d4afaf3b02a6515d46c7ccab6f2.jpeg
asterisk above should be edited to state "will only miss by"...
And yes, Apple is most definitely finding itself in a new 'price point is pretty damn important' and 'hey, these other tablets and android phones coming out are pretty decent" world going forward.
Steve Jobs physical death was symbolic in more ways than one for Apple (death usually being a drawn out process, rather than an unexpected event).
First time they get a pass, much BS about 4S being late etc etc.
The 2nd miss will mark the decline.
bring back Wozniak
Ah yes, the Woz. He'd force every Foxconn employer get a cybernetic implant with a disciplinary electrode.
(perks up) "Disciplinary electrode"?? Tell me more. Can they be implanted into the slacker moron kids at Mickey D's? Is there an app that'll let disgruntled customers - not me, of course. I'm just sayin' - shock those surly, head down, no eye-contact makin', slow-shuffling little asswipes into moving with a purpose??
Time for QE3
shit just got real
Not to worry...the stock is up afterhours.
What tape are you watching? Down 4 1/2% right now.
My bad...I was looking at it as of 4:28PM.
I'm sure it'll end up being green though. Can't keep SkyNet down! :)
Reggie! You have been Vindicated!!!!!!!!!!!!!!!!!!!!!!!!! Sort of. They still brought in 28 billion!
New leadership into truth telling and not going POW. Wonder how that's gonna work out.
Expect another rumnor immediately in the morning, ALGO's to crank it out, and shorts to cover. Oh, and I'm sure the dollar will fall 2% against the staaabileeeteee of the EUR as well.
comment removed because I am an idiot.
+ 1 Good comment.
Don't feel bad! I was called a nimrod with just 2 and 1/2 neurons left here at ZH!
I had to correct the gentleman who wrote that: Bearings do not have neurons.
You can eat an apple, but you can't eat the Apple.
www.pmbug.com
whisper number was 7.60....holy batshit.....
Apple up after-hours. All is good.
WRONG
-4.5%
Good, my feed must be fucked up.
You still using Yahoo!Finance for quotes?
It's down $21 from the close.
The bulls are dillusional! Its down 20 bucks on the overnight... The bulls will get slaughtered!
We live in interesting times.
New FDIC insured Bank of Apple coming soon
BoA....get it...
Seeing the market's response to Apple's results with probably finish Steve Jobs off...
so when does iBama create the Apple Investor Bailout Fund?
He's already got one , brutha. Passed out near $50 trillion so far. We're not in the club.
Reggie called this one. I bought a fucking BOATLOAD of way out-of-the-money puts for cheap, the people selling them had them priced too low IMO. If the puts expire worthless I don't care. But if they come in, I'm sitting on a true fortune.
GO GOOGLE GO ANDROID GO KINDLE GO HP PAD
You got fleeced on the premium. I wouldn't be surprised if your puts are at equal value tomorrow. You should have sold the calls.
edit: - on further thought, im not sure what expiration you have and how OTM. Was mainly thinking about the IV drop after earnings.
- Anyway good job either way on making a right call.
Yeah I agree on selling the calls, BUT I don't have the balls to sell naked calls, only calls I sell are covered calls on my dividend payers. And I wasn't buying AAPL stock.
We'll see how I do, again this was pure speculation based on Reggie's note. Anyway, I think he called it pretty accurate.
Adding: they are WAY out of the market, 100 and 200 strike on the puts, through 2012 I believe, they were very cheap. If they expire worthless I won't care.
I picked up a few way out of the money on ms thinking similarly.
Read MacroTony's "Implied Volatility" piece, or just live it and take notes tomw.
lol
+ 1
Good luck! I do not like Apple products.
iDUD
That just means you don't want to pay more to have it all done "simply" but wrong for you. And you don't need to buy some dumb bling to feel superior. Or "think different" in herds like apple fanbois do. Real men don't need that, nor do they need a walled garden, or huge premiums at single-source suppliers. Keep stackin, DoChen.
AND Apple does not offer an easy to use SQL database (similar to MS Access, which I like a lot) nor any good statistical software. And EVERY TIME I go to their "Genius Bar" (gotta love that) and ask them if they sell a decent SQL database I get a look like I am from a different planet. Geniuses,,,, right..........
Our 24 year old kid loves her Apple iStuff though... And my wife converted to iApple, leaving me the sole holdout of Wintel at "my" house.
---
Maybe a friend or two of mine will join me in, what, a stacking moment tomorrow! Soon as I buy, watch the price dive $40...
So the big guns of AAPL and IBM not so hot, but market still happy cos it all smoked up on Hopium about the EU hope of hope of hope of a rumour of something maybe, sometime, maybe
OccupyAAPL is next - wait for it....
LOL! NY Post had a thing about people neing ripped off at NYC OWS. Some lib lawyer girl had her $5,500 Mac iBook stolen. Either she was ripped off by Apple and the libs love Apple's overpriced stuff or she was gonna con her insurance company. The donations at OWS NYC were stolen, people were robbed. In Seattle or Portland they put a young girl in a tent with a guy who was a rapist and guess what he did to her?
AAPL is a long-term short. I don't really have skin in the game and I didn't want to take anything away from the much deserved Jobs-praising but now we have another data point.
Maybe it will be higher in a year, maybe they'll kill it next quarter but it's simply expecting too much to think the apple can keep rolling like it has without the man.
Can't have it both ways really and it's getting into the realm of large numbers anyway.
You may well be correct about AAPL. No opinion here, and no long-term position either.
However, if you fancy a classic long-term short, cast your eye on CMG. In the process of rolling over on the monthly chart, and WILL follow in the footsteps of such infamously overbid retail food shares as Boston Chicken, Snapple, and KrispyKreme. The Jan 2013 LEAPS puts, while expensive, look to my observation to be very, very attractive. One quarter (at least) between now and next October, they will miss earnings -- likely badly -- and the bloodbath will commence. Their growth curve is simply unsustainable and, for whatever reason, the mo-mo crowd haven't yet figured this out.
And their next Q report is this Thursday.
Best wishes.
I bought some cheap out of the money Nov puts on CMG, just because I think they've rolled over and wanted to take a gamble on a short term dip. They're holding tough right now. But as soon as this rally tops, somewhere in the S&P 1260 range, I'm loading up on further out CMG puts. Could be the play that makes my year next year.
Krispy Kreme - the Crocs of donuts. Speaking of Crocs - down about 40% today - ouch.
First miss since 2004.
Not ever a slight miss by Apple. Revenues, EPS, iPads, iPhones all below expectations. Only Macs beat.
And in anaylst "liability management exercise" speak expect to hear alot about "special situation" and "channel drawdown".
Also, next quarter will be a blow out.....just you wait..#btfd
Might not be an obviously bad idea this time, actually? The iPhone 4S is apparently opening very strongly, and now expectations have been moderated a bit. Just saying...
I phone 4S? Lolzipopz..
I'm still showing Apple up after-hours? Anyone?
now it's -5.5%
you need to find a different ah feed.
Yep, got it. thx.
Check the time of the quote..
APPL - $395 right now.
Btfd
Definitely bullish!!!
/sarc
Now what?!!
Again, Long GOOG/Short AAPL = $$$
Of course they missed the target EPS. You have thousands of trust-fund douchebags protesting wall street and they were too doped up to remember that the new iPhone 4S came out last week.
They'll come back soon in time for Christmas.
Why are you buying into the image that the MSM wants to project about OWS? This is a non-partisan, populist uprising. Repubs, Tea Partiers, Dems, Libertarians are all taking part, primarily because they are disgusted with both parties. Don't be fooled by what the MSM wants you to believe. The MSM is the PR machine for TPTB, who wish to perpetuate the status quo, so they want to keep us divided. They're scared shitless that this thing might get legs and unite a majority of the population. Don't be fooled by the idiot video clips they show you. This thing consists of those of us who are disgusted with both parties.
Apple and Cisco long thrived on lowering the bar re. future quarterly EPS estimates and then beating them. I never imagined Apple would announce a miss.
Apple is now in the kicking the can down the road game, too. We promise, next quarter will blow the roof off!
If you don't have anonymous & unnamed Guardian-sourced sources, then what else ya' got?
Lol, this news sent tresuries up and every index down
Scary isn't it? And all the technology does is allow folks to watch fart jokes on Youtube.
Margin compression and customer base erosion from Android, just like Reggie forecasted.
Margins are 40%, up from last years 36%.
They reduced their labor costs by cutting pay to one bowl of rice per day.
So it finally happened and just when INTC knocks the ball out of the park. Up 5% on earnings.
On behalf of all of Apple's poor Chinese slave laborers past, present and future, I thank you for that one!
Best laugh I've had all day.
Unit sales look great to me, I might even buy my 1st ipod soon-it doubles as a watch! Where's Reggie? Chest thumpa extrordinaire? "MARGIN COMPRESSION" Maybe he'll bring Coupons this time.
he should be thumping his fucking chest after the bullshit he put up with from some of the peanut gallery around here.
Do you subscribe to his service? You can't rely on the 2 incomplete, Dylan Ratigan "run-on" sentences he drops off here in his advertisements. I wish he would offer a discount or free trial for ZHer's. Other than that, he's a brilliant man and I have told him so. I like the Tarzan guys. Lol.
iBroke.
Well I owe The Guardian for planting that rumor, because I sold all of my AAPL at $424.628 on it. And I do not think I will be buying it back soon.
And I just bought my first Iphone the 4S. It is very cool.
Is it too soon to crack jokes about Steve Jobs?
No.
Crack yourself out!
Definitely not. Crack away.
Steve got out in time. RIP.
Haha! Nice one Mr Sadistic Laughter-er ;)
Slavery has a moral cost.
Huh you don't get endless growth by selling overpriced toys to bankrupt idiots? Well that's news...
This earnings reportwill certainly make tomorrow's action interesting. AAPL is 1/8th of the NASDAQ.
Ouch! Now down -6.3%
Today Goldman misses huge, IBM big miss, B of A, JNJ junk and we go up 200
Tomorrow Appl misses - so what we go up 300????
This is such a fucking joke.
Well, Apple hedge funds will buy now because they know now that AAPL will recover!!!
All just revolves around the daily carrot and stick rumor now, nothing else matters.
The only thing Im considering buying are items such as ammo, long term food, water purification systems.
SheepDog I have to call bullshit on that. You have been quietly accumulating. Too bad you lost all your PMs in the boating accident.
Apple misses...got to be good for +1% futures wide, right?
How many billion $$$ in the bank? Maybe they buy Greece, the country.
It's worse than that ... Apple was the only company with enough market cap to bail out Italy!
Oh well, back to the drawing board ...
Apple's market cap isn't near enough to bail out Italy, let alone the PIIGS+France+U.K.
Only a room full of the original founders of LTCM, Enron & Bernard Madoff can present a 'sellable' plan to stave off (if even for another few years) a deepening of the fractional reserve banking induced global economic crisis.
interesting ... I see JPM, C, BAC but no where do I see GS or MS.
interesting ... I see JPM, C, BAC but no where do I see GS or MS.
Apple misses and The Guru is dead.
The new iPad 2 will save them. The rumour is it will have a sticky strip on the back that will hold onto anything; they are making in a JV with Playtex.
Yet, the market refuses to drop, it's like people can't have enough of apples.
None of this matters anymore, its all about vaporous myths and rumors of trillions in bailouts from broke entities to more broke entities.
No its not, and I know you've seen this before, but let's review:
http://www.youtube.com/watch?v=UI2FolId6CA
Note: its updated and clean- no foul language.
Who besides the appl geeks will buy their products.
Macintosh was a good little typewritter othen then that it all sucked.
Appl is dead they cant keep their property rights on both their hardware and software and survive.
Intel makeing chips for their products accounts to that fact.
Appl will just have to sell off more and more of its property to exst going foward. Jobs idea of a full realistate domination of a product died with him.
Going fowrad Appl will become more like dell then Ibm or Microsoft.
Sad but true.
* the type window font is far to small for me to see properly.
There needs to be a way that font size is the same as on the origional page.
* the type window font is far to small for me to see properly.
There needs to be a way that font size is the same as on the origional page.
Yes, please Tyler and Sacrilege, typing such small letters is hard on 55 yearols' eyes...
Time to consider reducing AAPL holdings? True, AAPL probably still has some good products in the pipeline. But Steve Jobs was a very hands-on manager (some would say a slavedriver) and without Jobs to drive the new products, they may not turn out as well as his previous offerings did.
AAPL will certainly not go away anytime soon. But the worry is that it might somewhat follow the path of HP which became a different, less dynamic company after H & P left the scene.
I hate to say it, but you're right. Just look at what happened to AAPL after the board fired Jobs. Can't re-hire him from where he is now...
No one but Jobs had the balls to walk into a programers cubical and tell him his code was shit and needed to be better.
I would have decked him twice first for entering my zone the second for speaking.
But ya jobs could deliver a reworked and unorigional product that worked (mostly).
If appl is to succed you have to have a manager thats willing to loose teeth to get a product done faster and better then it ever should have been.
Jobs was that kind of manager. He should have lost more teeth.
Yeah cos nothing takes balls like walking into a programmers cubicle and telling him his code is shit..
LOLLOLOLOLLLLLLLLZILOZLZOLLLIUZL.
Even Bezos? I learned on google that he makes ordinary control freaks look like stoned hippies.
Don't know what all the fuss is about - they only missed earnings!
Geez - with all the hysteria - you'd think Steve Jobs had died or something!
Steve's body isn't even cold and Apple ends his tradition of under-promising and over-delivering w/FY 2012 Q1 forecast.
Horrible.
Yet tomorrow all that will matter again is what rumor comes out to shoot markets up 3% or so.
As a reminder, Lindsay Williams said in January that when you see markets wildly swinging a few % daily by the fall, youll know its all about to implode big time. He said that was the 'dying elite guys' deathbed words to him.
iMiss
Well people are always saying shorts get raped daily...looks like a hell of a lot of bulls are getting their horns whacked off here, plus APPLE is the most widely held fund stock.
Whelp, I was waiting for this shoe to drop.
Now all I need is some sanity in the price of LNKD and CRM (I'm short both) and this is going to be a good year. Good year betting against bullshit valuations, that is.
iMissed
josh randall - occupy apple might occur when they realize part of the problem, somebody took my employment (didn't pun on jobs) away - but somebody else helped take my brain away.
AAPL was clearly a bubble. Just ask CNBC. They thought it wasn't one.
+1 http://tinyurl.com/3f7ud56
Apple will lose more customers as they increase their proprietary lock-in, now you can't even change the internal hard drive to an iMac because the original drive has proprietary firmware by Apple. (2011 iMacs) If you replace it with a stardard hard drive your iMac will no longer pass the apple hardware test and your cooling fans will be hoovering at max all the time.
Needless to say, there is no REASON to do this, ordinary hdd's Smart attributes would have sufficed for temperature reporting just fine. Apple did it because they want to increase their lock-in and therefore try to prevent margin erosion on a component very much subject to it.
This is true IBM-style vendor lock-in and all it got IBM in the long run is customers jumping ship (and having to divest of pc manufacturing completely). Steve's walled garden is slowly turning into a torturous jail. Why is it called a 'jailbreak' when you unlock/root your iPhone, anyway.
Apple has always pulled that crap. I used to repair computers for extra cash in high school and I always told people I couldn't fix macs because couldn't buy off the shelf parts to fix them.
Proprietary disk drives, cables, memory. Apple is a facist corporation bent on destroying consumer choice. Nothing is ever their fault. orcing Nvidia to put a batch of defective chips in Macbooks so they wouldn't miss the ship date, faulty iPod drives, defective iPhone antennas, and putting an Apple logo on a $500 LG monitor and selling it for $1500. Just par for the course for Apple.
Steve is gone ... so is Apple ... from the Bear
"The Matrix is everywhere. It is all around us. Even now, in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work... when you go to church... when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth. That you are a slave, Neo. Like everyone else you were born into bondage. Born into a prison that you cannot smell or taste or touch. A prison for your mind."
"What is it?"
"A déjà vu is usually a glitch in the Matrix. It happens when they change something."
"Throughout human history, we have been dependent on machines to survive. Fate, it seems, is not without a sense of irony."
barliman
nice