Grace came into the office yesterday afternoon after the Apple financial results were announced, and I said I needed a new verb to describe what Apple did to Wall Street with their latest quarterly results. She suggested “Apple paves the street” which is totally appropriate. Apple posted sales of $24.7 Billion dollars! I remember when Apple’s goal was to post $5 Billion in sales for an entire year. This quarter they posted just under $6 Billion in PROFIT! This compared to $13.5 Billion in revenue and $3.07 Billion profit for the same quarter last year. These numbers are the best results for a non-holiday quarter
Here’s some of the details:
- Apple sold 3,760,000 Macs, a 28% increase year over year and close to the all time record- this growth is contrasted with an overall 3% contraction in the PC market
- Apple sold 18,650,000 iPhones for the quarterly sales record, this is 113% growth!
- Apple sold 9,020,000 iPods representing a continued decline in iPod sales
- Apple sold 4,690,000 iPads as the iPad 2 was launched and Apple worked to meet the overwhelming demand- Tim Cook described it as the “mother of all backlogs”
- Apple will host its 1 billionth retail customer this month and retail stores are doing well. I do not talk much about Apple retail, don’t go there—patronize your local Apple Specialist for superior service and support!
- Apple is posting sales at the rate of $190,332 a minute!
- Apple has about $65,800,000,000 in cash and liquid assets in its war chest
Apple continues to create new markets and innovative devices that seem to intuitively fit into our lifestyles. When I was in China I was simply amazed at how many iPads and iPhones people were using on the trains (which have WiFi, by the way). It used to be Dells and HPs being pulled out on the plane in business class, now it is usually a majority of Macs. Everyone who meets with me and has something other than a Mac says they want a Mac. There is no question that the most amazing story in American business history is unfolding before our eyes. The product pipeline is full, Apple continues to innovate and lead, leaving competitors in the dust. We have never been prouder to be an Apple Specialist!
Congratulations to Tim Cook, Steve Jobs and the entire Apple team for an awesome quarter!