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Apple profits rise 15%, iPhone sales soar

When it comes to Apple, the thing most fresh in most peoples' minds have been Microsoft's "Laptop Hunter" ads. Microsoft's three ads took direct aim at Apple's "cool" but expensive laptops and compared them to Windows Vista-based laptops which offered similar specs for hundreds less.

Despite the back and forth that has been brewing on the internet with Microsoft's fresh attack on Apple, the boys from Cupertino have something else on their minds today: Q2 2009 results for the period ending March 29. Despite the downturn in the economy, Apple as a company managed to post revenue of $8.16 billion and profit of $1.21 billion which represented earnings of $1.33 per diluted share. Apple's results for the same period last year were $7.51 billion, 1.05 billion, and $1.16 respectively.

While Microsoft's Laptop Hunter ads came too late in the quarter to personally do any serious damage to Apple's momentum with Mac sales, it appears that the slowing economy and consumers' penchant for lower-priced netbooks was the motivating factor for the three percent slide in Mac sales to 2.22 million compared to a year ago.

On the other hand, iPod sales grew a modest three percent to 11.01 million units while iPhone sales were up a whopping 123 percent from a year ago to 3.79 million units.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Apple CFO Peter Oppenheimer. "Apple’s financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."

Most Apple fans will now be looking forward to June when the company is expected to announce a new hardware revision of the iPhone and OS v3.0. The next generation iPhone hardware is expected to feature faster connectivity speeds, dual cameras, and support for stereo Bluetooth. The latest iPhone OS revision will bring much-needed support for MMS messaging, copy/paste, push notifications, and landscape email support.



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RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/2009 5:41:31 PM , Rating: -1
quote:
with $29 billion in the bank
So, how much does Microsoft have in bank these days?


RE: Apple's Needing to Target Low-End Exaggerated
By fsardis on 4/22/09, Rating: -1
RE: Apple's Needing to Target Low-End Exaggerated
By Doormat on 4/22/2009 6:04:06 PM , Rating: 3
From the horses mouth:

http://www.apple.com/pr/library/2009/04/22results....

Apple’s financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet

This is their cash, near cash and short term investment amount. This information is openly available in 10Q and 10K statements published every quarter and year, respectively.


By weskurtz0081 on 4/23/2009 8:46:43 AM , Rating: 1
Marketable securities is not "in the bank"..... good god man... come on!


By Pirks on 4/22/2009 6:24:02 PM , Rating: 1
quote:
prove that they have 29 billion from a statement from the company
Jeez you're dumb... anyway, Doormat has already taken care of you in his post above.
quote:
you are an idiot
At least I'm not as dumb as you, 'cause I'm not asking questions like "where are the company numbers?" RIGHT AFTER THE COMPANY SHOWED ALL THE NUMBERS! Sheesh.


RE: Apple's Needing to Target Low-End Exaggerated
By Doormat on 4/22/2009 6:00:26 PM , Rating: 3
$20.7B as of Dec 31, 2008.

http://www.microsoft.com/msft/earningsFY09/earn_re...

see the line Total cash, cash equivalents, and short-term investments


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By stromgald30 on 4/22/2009 6:33:24 PM , Rating: 2
http://www.microsoft.com/msft/earnings/FY09/earn_r...

20 billion in cash, cash-equivalents, and short-term investments.

Not sure what this really means other than the ability to start new projects/expand or buy out other companies. If you look closer, Microsoft has more long term assets, including 12 billion in goodwill, which just reflects the premiums paid when buying out other companies.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
RE: Apple's Needing to Target Low-End Exaggerated
By BBeltrami on 4/22/2009 6:53:51 PM , Rating: 3
You always have such thoughtful, intelligent contributions that add so much to the conversation. I'm really looking forward to the car analogy, again. I don't understand why you get rated down. DT readers are such tools, huh?


By DigitalFreak on 4/22/2009 9:17:52 PM , Rating: 4
The real reason Jobs had to have surgery was to remove Pirk's tongue from his ass.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By DigitalFreak on 4/22/2009 9:40:11 PM , Rating: 2
That's the best comeback you've got? Pathetic


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By inighthawki on 4/22/2009 10:07:42 PM , Rating: 2
firstly, it's 'well', not 'good'. plus he's not trolling that was just terrible


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By stromgald30 on 4/22/2009 7:01:33 PM , Rating: 4
Considering MSFT's net income is 4 times Apple's and their total assets are much higher, I don't think this means much at all. It's just an impressive figure that Apple's CFO was throwing around.

I remember back in 2002, MSFT kept close to 40 billion in cash and easily liquidated assets just for mergers and acquisitions. Having alot of cash lying around just means that a company is either about to do something expensive or is being poorly managed.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By stromgald30 on 4/22/2009 7:21:51 PM , Rating: 4
Lol. Maybe you should go back to school and brush up on those reading comprehension skills.

I said that a company with a lot of cash is probably about to do something expensive OR is being poorly managed. Why don't you look into all the acquisitions Microsoft did in 2000-2003: http://en.wikipedia.org/wiki/List_of_companies_acq... . They had their third largest acquisition ever in that year.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/22/09, Rating: -1
By stromgald30 on 4/22/2009 7:42:24 PM , Rating: 2
Lol, its funny how short sighted you're being.

There are a lot of other acquisitions there without the cost listed. In addition, some cash needs to be kept in reserve and some needs to be kept just in case a new, good deal comes along. My point is that Microsoft had a ton of cash, and they were using it for some large acquisitions.

Apple has more cash/liquid assets now than it has in years, possibly ever. So if it sits there, its poor business. I doubt it'll sit there for long. More likley Apple will try to do something big, maybe a buy out, a new project/product launch, new facilities, etc. Or, next quarter, they might simply have invested the money into more long-term assets.

Also, Navision wasn't a 1.3B company. Microsoft paid 1.3B for it, there's a big difference there.


By StevoLincolnite on 4/22/2009 11:36:58 PM , Rating: 2
Having cash on hand allows a company to fall on it in tough times, When the Xbox was originally conceived Microsoft lost Billions, which has now been made up for. (I think.).

Also worthy to mention is that both Microsoft and Apple have more income than some countries governments around the world, even more cash on hand.

Having allot of cash on hand also allows for aggressive advertising, and acquisitions as well as product launches where they might need to cover warranty and pay for other things.


By xRyanCat on 4/23/2009 9:04:28 PM , Rating: 2
Microsoft hasn't recuperated their losses on the original Xbox, but the Xbox 360 division did see profit a few quarters ago.


By weskurtz0081 on 4/23/2009 8:45:48 AM , Rating: 1
Hmmm.... it seems you have quoted incorrect information.

Apple does not have $28 Billion in the bank, depending on your definition of "the bank". It's more like they have around $7 Billion in the bank. Pirks, I thought you of all people would know that!


By weskurtz0081 on 4/23/2009 9:06:49 AM , Rating: 2
Sorry, I also looked at the wrong information (See Dec 2008). As of the LATEST quarter, Apples cash on hand (see: in the bank) is about $4.5 Billion.... not $7 Billion, or $28 Billion.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/23/2009 2:40:34 PM , Rating: 1
So what if MS doesn't have even that?


By stromgald30 on 4/23/2009 4:24:41 PM , Rating: 2
Um, Microsoft has $8 billion in cash and cash equivalents.

Look at the numbers before posting, please.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/23/09, Rating: 0
By weskurtz0081 on 4/23/2009 9:36:24 PM , Rating: 2
I am really curious if you have even looked at the latest financial reports.... or are you just repeating incorrect information that you are seeing other people post?


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/24/2009 3:22:12 AM , Rating: 2
Are the official Apple's and MS's financial reports incorrect?


By weskurtz0081 on 4/24/2009 7:45:55 AM , Rating: 2
I never said THEY were, I said what you are quoting.... and where ever you got that info from, is incorrect.


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/24/2009 3:58:19 PM , Rating: 2
So you're saying the official Apple and MS info is incorrect? I've got it from the official MS and Apple web pages, see links above.


By weskurtz0081 on 4/24/2009 4:16:41 PM , Rating: 2
I have them too! Here, I will post the links and the data for those of you (not naming names) in the cheap seats!

Cash/Equivalents
MSFT: $7.285B
APPL: $4.466B

S.T. Securities
MSFT: $18.055B
APPL: $20.547B

Total Current Cash/Equivalents etc:
MSFT: $25.34B
APPL: $25.013B

Now.... lets go ahead and skip to TOTAL assets!

MSFT: $68.853B
APPL: $43.237B

http://www.microsoft.com/msft/aspx/secfilings.aspx
https://www.apple.com/investor/

I think that is pretty self explanatory isn't it?


RE: Apple's Needing to Target Low-End Exaggerated
By Pirks on 4/24/2009 5:19:11 PM , Rating: 2
http://www.apple.com/pr/library/2009/04/22results....

"$29 billion in cash and marketable securities on our balance sheet"


By weskurtz0081 on 4/24/2009 5:48:36 PM , Rating: 2
Oh.... I see. You are quoting what someone else says.... and NOT what the balance sheet says! Nice.........

So, have you even looked at the balance sheets? Do you know how to read them?

Ok... since you are taking the word of an Apple shill... and don't seem to understand financial statements, I will break it down for you.

The number, which is actually $28.878 Billion is Current assets PLUS long term securities.

Typically, long term securities are not listed the way Apple listed them because it is hard to determine the value of a long term investment... hence it should not be counted as CASH. What Apple did is bolster the balance sheet by listing it as a CURRENT asset, which it is typically not listed as.

So, why don't you go take a look at the official balance sheets of both companies, rather than take the word of an Apple mouthpiece, and try to understand and learn what all of that means. ;)


By weskurtz0081 on 4/24/2009 7:47:24 AM , Rating: 2
Do I REALLY need to pull the data off of each of the companies Q2 10Qs?


By weskurtz0081 on 4/23/2009 5:22:01 PM , Rating: 2
I don't really care what either has or doesn't have.... I was just stating that you guys were using false information.


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