AAPL shareholders breath a sigh of relief as the stock moves up 40 points in after hours trading, closing the extended session at 603.81 +43.53 (7.77%).
This move is pretty much in line with other earnings pops, but these moves also tend to fade by the next open, lets see if that happens here.
I was at Washington Dulles airport yesterday waiting for a connecting flight and could not help by notice at last 75% of the people sitting in the terminal had either an iPhone or an iPad, or both.
As the report below shows, iPad sales are +151%, you can count my family as some of the customers that contributed to that number, everybody in my family now has one.
Makes you wonder when they start hitting some kind of saturation level... obviously not today!
WSJ - By Paul Vigna
Apple shares are up nearly 7% in late-trading after the company posted another blowout quarter, with earnings nearly doubling from a year ago and any questions about the company’s strength soundly silenced.
Apple saw its fiscal second-quarter profit rise 94%, to $11.6 billion, or $12.30 a share, from $5.99 billion, or $6.40 a share, a year ago. Sales rose 59% to $39.2 billion from $24.67 billion a year ago.
The Street consensus was for EPS of $10.02. You could say they beat the Street.
However, and we’re in very relative territory here, the “beat” wasn’t quite as blowout-y as the last quarter, S&P’s Howard Silverblatt said. This quarter, EPS beat Street views by $2.28; last quarter, it was $4.25.
But that’s a minor quibble.
IPhone sales rose 88% from a year ago to 35.1 million phones. IPad sales rose 151% to 11.8 million tablets. Mac sales rose 7% to 4 million computers. IPod sales fell, down 15%; still, they sold 7.7 million of those.
Cash flow was $14 billion, and the company pegged fiscal third-quarter earnings at $8.68 on sales of $34 billion