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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 fsardis on 4/22/2009 5:57:10 PM , Rating: -1
First of all prove that they have 29 billion from a statement from the company not from rumors.

Second of all, who has the largest user base and more sustainable business? What about assets? Do not compare a giant with a dwarf based on shoe size.

But then again you are an idiot and it is your god given right as one to see reality the way you like.

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:

Appleā€™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
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.
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.

"Well, there may be a reason why they call them 'Mac' trucks! Windows machines will not be trucks." -- Microsoft CEO Steve Ballmer

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