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Apple 2Q 2008 Results, Conference Call Highlights: $1.05 Billion in Profit

joemama said:
I'm serious on this - the "halo" effect from the iPods, iPhones, etc is working. This is going to be a stellar year for Apple, even in a "recession."
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The market is in an economic slowdown right now. That's known fact. And yes, I do believe that were in a recession. So, there is no need for those quotation marks around the word "recession" because we are in one. :rolleyes:
BRLawyer said:
Apple is gonna be the BIGGEST computer company in the world in less than 2 years...Microshaft, prepare to be bought within that period, because Apple is mopping the floor with you.

There is NO OTHER company in its segment growing as much as Apple, especially in these times of recession in the US...SJ and Co. have the PERFECT strategy and are firing on all cylinders...it's an INCREDIBLE BUSINESS CASE!

SIMPLY AMAZING NUMBERS and growth incredibly higher than any competition...GO APPLE GO!!!
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Um, no, not at all. The student population is only a slight margin of all of the computer market. Business customers are probably number one (don't know off the top of my head), but if they are, it will take Apple YEARS to pull in the many business customers to Macs. Software is not compatible, the learning experience, more money then Windows computers, etc. So don't assume that Apple will eat away the 90%+ market share that Microsoft dominates.

dejo said:
AAPL down to about $156 in after-market trading.
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Doesn't surprise me, the market had to absorb it. I see Apple opening up tomorrow at $150.
 
dashiel said:
and apple always guides lower than the reality. that investors haven't figured this out yet is one of the great mysteries of the universe. the script goes:

apple announces record profits, smashing their guidance from last quarter
apple issues guidance for lower revenue in the following quarter
stock tanks as moron investors fail to recall the pattern from last quarter
apple stock slowly rises over the next couple of months, spiking towards the earnings call
apple announces record profits, smashing their guidance from last quarter

i don't know maybe it's actually a healthy cycle, like culling the herd, but it still amazes me analysts don't remember apple does this every single quarter.
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Absolutely...Apple's guidances are always overtly conservative. Unfortunately, there is not much Apple can do to fix this. Investors (and analysts) do indeed expect their guidances to be less than what Apple will actually do, and factor that in. If Apple were to make a slightly more aggressive projection next time, investors would be expecting far more than what Apple can actually deliver.
 
Much Ado said:
Or was it 'we hope to have sold 10m in 2008?'
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Good afternoon. First in terms of the iPhone, Steve Jobs talked about 10 million units. Is that for fiscal '08 or calendar '08? Where did that number come from? Maybe just a little bit of logic behind that number.

Tim Cook

Gene, calendar year '08 is what Steve referenced in his keynote. The point that he made was that the worldwide market for total cell phones is somewhere around 1 billion and our objective of getting 1% of it would yield 10 million units across the calendar year.
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http://seekingalpha.com/article/24432-apple-f1q07-qtr-end-12-30-06-earnings-call-transcript
 
Oh please, please please! Let the moron traders drop the stock down even more so I can buy some more. I'll take some regular savings to buy some artificially deflated AAPL.
 
fanbrain said:
Those numbers look great.

Here's hoping the momentum continues.

I think this is going to be an exciting rest of the year for Apple.
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Exactly. And her is to hoping that Apple won't hold their cards until June. They better should start rolling out updated products to get a nice third quarter.

Best start would be to update the iMacs and Mac minis to Penryn. This could be a very silent update.

Here is to hoping they roll out iPhone 3G ASAP. And they should concentrate their media distribution efforts on international scale. But those unfortunately are updates, that need the big fanfare.
 
dashiel said:
and apple always guides lower than the reality. that investors haven't figured this out yet is one of the great mysteries of the universe. the script goes:

apple announces record profits, smashing their guidance from last quarter
apple issues guidance for lower revenue in the following quarter
stock tanks as moron investors fail to recall the pattern from last quarter
apple stock slowly rises over the next couple of months, spiking towards the earnings call
apple announces record profits, smashing their guidance from last quarter

i don't know maybe it's actually a healthy cycle, like culling the herd, but it still amazes me analysts don't remember apple does this every single quarter.
Click to expand...

Yeah, but to be fair, apple is protecting itself by being conservative in its forecasts. beating your own guidance is fine, but what if something happens that you can't meet your own guidance? as a company you want to aim low.
 
longofest said:
Yeah, but to be fair, apple is protecting itself by being conservative in its forecasts. beating your own guidance is fine, but what if something happens that you can't meet your own guidance? as a company you want to aim low.
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Which is another way of saying that guidance is pretty meaningless.
 
IJ Reilly said:
Which is another way of saying that guidance is pretty meaningless.
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Exactly. I totally understand the logic in low guidance, but isn't the whole theory behind guidance supposed to be making public what you actually expect for the next quarter?
 
There's much pent-up demand for the 3G iPhone, or so it seems. Once that is released, that should really propel the iPhone numbers. Heck, I'll be the "first" to buy. :)
 
swagi said:
Now that's what I call volatility. Just five minutes ago it was close to 163 in aftermarket trading (taken from Yahoo). YIKES!
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Yeah, and immediately after the press release came out I got a real-time quote at $170.
 
So iPod sales have gone flat?

Seems to be next to zero growth in iPod sales. I assume because everyone who wants one already has one and Apple is now only selling replacements. This happens in every market as it matures. Kind of like refridgerators, microwave ovens and lawn mowers.

This shows the disadvantage of being the "big guy". With macs Apple can still grow be taking away market share from PC makers. But Apple can't grow iPod sales by taking away market share because thy already have it.

Microsoft is the same. They can't grow Windows sales any more.
 
Brett McD said:
Exactly. I totally understand the logic in low guidance, but isn't the whole theory behind guidance supposed to be making public what you actually expect for the next quarter?
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I suppose what they are permitted say is tied up in SEC rules, but it seems not. I imagine some sense could be made of guidance by tracking it vs. reported earnings for several years running, but since I've never actually seen it stated precisely how conservative Apple has been historically in predicting their own performance, I don't know why the markets get so excited about the number. How can anyone pretend to know what it "actually" means?
 
Pippen Man said:
Or better yet, "There is one more thing...":p
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You wish. :p Tim Cook actually said that the reason that stock of the iPhone is down in the retail stores is because that everyone wants to buy an iPhone for the intention of unlocking it. :D At least they are aware. :eek:
 
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