Thursday, October 21, 2010

Apple 4Q Earnings

Apple posted earnings of $4.64 per share compared to
expectations of $4.08. This quarter is yet another record
for AAPL and we expect that with holiday season
approaching this will only go up next quarter. Net income
was up 70% year over year with revenue growing 67%.

Apple sold 14.1 million iPhones from July through september beating
analyst estimates of 12 million. CFO Peter Oppenheimer stated "had the
company been able to make more iPhones, that number would have been even
higher". With strong catalysts looking forward such as the new line of
iPods, the iPad and possible Iphone contracts with other service providers.


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