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Apple today
announced financial results for the first calendar quarter and second fiscal quarter of 2011. For the quarter, Apple posted revenue of $24.67 billion and net quarterly profit of $5.99 billion, or $6.40 per diluted share, compared to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent, compared to 41.7 percent in the year-ago quarter, and international sales accounted for 59 percent of the quarter's revenue. The numbers represent the best non-holiday quarterly revenue and earnings in Apple history, just missing last quarter's $6 billion profit.
Apple shipped 3.76 million Macintosh computers during the quarter, a unit increase of 28 percent over the year-ago quarter. Quarterly iPhone unit sales reached a record 18.65 million, up 113 percent from the year-ago quarter, and the company also sold 9.02 million iPods during the quarter, representing 17 percent unit decline over the year-ago quarter. Apple also sold 4.69 million iPads during the quarter.Apple's guidance for the third quarter of fiscal 2011 includes expected revenue of $23 billion and earnings per diluted share of $5.03.
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That margin is truly ridiculous. Great for stockholders but really bad for consumers. A 41% profit margin, they could sell their $1000 computers for 800 dollars and still make the industry average profit.
With that kind of margin don't say they don't cost more than they should. But people still buy them because to them, they can be worth every penny.
I'm not saying that they are overpriced by definition because people still love buying them and it is the market who sets the actual value of an object. But they could lower their prices quite a bit.