Apple 2nd quarter update - profits up 95%!

We can't make them fast enough! Apple claims to have sold EVERY iPad ever made (all 19.5million of them) (www.dailymail.co.uk)

Apple's "cry for help" doesn't seem to be affecting profits which for the second quarter are up 95% on last years comparable period. 
Yes that is a 95% increase on last years second quarter profit figure of $3.07bn resulting in $5.99bn of net profit for this years second quarter as reported on the 22nd April.


The statements and highlights are pretty inspiring:
- Sales of $24.7bn
- Net profit of $5.99bn
- 4.7m Ipads (of all all kinds) sold in the latest quarter
- 19.5m Ipads sold in the past year.
- 18.6m Iphones in the last quarter, the highest in any quarter since 2007
- 3.8m macs up 28%


But, in line with the headline Apple has admitted to a backlog on the sales of the Ipad but said that it was catching up with them whilst also rolling out sales to a further 13 countries this week.


And, "Although electronics manufacturers are struggling with  disrupted supplies of components from earthquake-ravaged Japan, Apple said it had not suffered  any such problems as a result of the disaster." (www.dailymail.co.uk)


Also significant is the fact that "Apple commonly provides pessimistic outlooks in its forecasts, and Chief Operating Officer Tim Cook said the effects of the earthquake on the Japanese economy would lower revenue by $200million, or about 1 per cent." (www.dailymail.co.uk)


Difficult not to get overexcited by statements and numbers like these but there is a long way to go yet to maintain this momentum and doubts still exist given the long term health of Steve Jobs.
But, whilst we still need to see the "next" direction that Apple will explore the shares have recovered some of their composure following the "NASDAQ" rebalancing announcement detailed in an earlier post - "Nasdaq rebalance hits Apple", which is still to take place officially on the 2nd May.


Apple @ $353.01, +$2.31 (+0.66%) 25 April close.


Article links:
- www.dailymail.co.uk: We can't make them fast enough! Apple claims to have sold EVERY iPad ever made (all 19.5million of them)


Previous related posts:
- "Nasdaq rebalance hits Apple"
- Apple update: Ipad 2!
- Feb 2011: Virtual Portfolio update.
- Is Android a reason to invest in Google?
- An Apple a day!
- Globally Diversified Technology, Growth, and Hedge portfolio!!!