Tuesday, 24 April 2012

Apple Q2 Results lead bounce back in after hours trading.

Apple @ $598 in after hours trading with a trading session high of $604.

Well there you have it. Apple appears to have bounced in after hours trading on the Nasdaq after reporting:
- Q2 sales of $39.2bn (2011 Q2: $24.7bn) including 64% international sales
- profits of $11.6bn (2011 Q2: $6bn)
- gross margins of 47.4% (+41.4% v. 2011 Q2)
- 35.1m iPhones sold (+88% v. 2011 Q2)
- 11.8m iPad's (+151% v. 2011 Q2)
- 4m Macs (+7% v. 2011 Q2)
- 7.7 iPods (-15% v. 2011 Q2)

So Mac sales were up, iPhones almost hit the record busting Q1 no of 37.05m (with the benefit of an extra week in it), iPads continued to grow, and iPods continue their expected decline. 
And with another $10bn of cash surplus to add, the company is now estimated to have around $110bn.

Not bad going.

Looking ahead, Peter Oppenheimer, the CFO, also added a company Q3 Revenue expectation of $34bn.

What was all the worry about then?
Still fair to say that the Cupertino juggernaut is venturing into unknown territory with the year on year comparables it is achieving, and still being expected to achieve.
The cash pile and the announced dividend/share buyback program might help to balance returns v. expectations but the challenge can only get tougher.

There is now a huge weight of expectation on the company and its product pipeline (with iPhone 5 etc.) but, for the moment, and given all the surrounding negativity, I am a happy (and somewhat relieved) shareholder.

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