Giddy over Apple’s consistent staggering growth — and seemingly giddier over the iPad — Formula Capital managing partner James Altucher believes that Apple is poised to become the first $1 trillion company. In fact, Altucher thinks Apple could already be a $2 to $3 trillion company. According to Altucher, Apple can basically do no wrong — he believes demand for the iPad 2 will continue to grow and then new products like the iPhone 5 and iPad 3 will send demand for Apple devices through the roof. He goes on to state that Jobs’ eventual departure from the company won’t even have a significant impact on Apple’s future, as many analysts expect, thanks to other great innovators within Apple such as Tim Cook. Apple’s market capitalization is currently around $320 billion, so its stock price would have to balloon to about $1,000 for Apple to hit $1 trillion. Hit the break for an enthusiastic Altucher talking up Apple in an interview with Business Insider. More →
Apple on Wednesday reported earnings for the second quarter of fiscal 2011. Reports from Tuesday suggesting Apple might miss iPad sales estimates were accurate as Apple reported second-quarter sales of only 4.69 units compared to 7.33 million iPads last quarter. Analyst estimates fell between 6 and 8 million iPads for the March quarter. Apple’s iPhone sold 18.65 million units globally in the second quarter compared to 8.75 million units in the same quarter last year and 16.24 million units in the first quarter of fiscal 2011. iPod sales came in at 9.02 million units, down from 10.89 million in the second fiscal quarter of 2010 and 19.45 million last quarter. Wall Street was expecting 16 million iPhones and 9.9 million iPods in the quarter. Mac sales narrowly beat the Street’s estimates of 3.6 million units, totaling 3.67 million units in the March quarter, up from 2.94 million last year and down from 4.13 million from last quarter. Revenue for the second quarter came in at $24.67 billion and Apple recorded $5.99 billion in profit, up 95% from $3.07 billion in the same quarter last year. Apple noted in its earnings call that the earthquakes in Japan will not affect Apple’s supply chain or its products in the third quarter. The company’s full press release can be seen after the break. More →
Following RBC Capital Markets General Manager Mike Abramsky’s lead, JP Morgan analyst Mark Moskowitz on Friday raised his revenue and EPS estimates for Apple’s 2011 fiscal second quarter. RBC upped its second-quarter revenue estimate from $23 billion to $24 billion on Tuesday, citing pent up iPad demand and strong sales of the Verizon iPhone 4 and newer laptop lines. On Friday, JP Morgan’s Moskowitz wrote in a note to investors that iPhone shipments in the quarter were likely stronger than expected thanks to the launch of the Verizon model and the addition of new sales channels for the GSM version of the popular smartphone. As such, he upped second-quarter estimate from 16.6 million units shipped to 18.4 million. Moskowitz raised his revenue estimate for the quarter to $24.42 billion from his earlier estimate of $23.83 billion, and adjusted his EPS estimate to $5.39 from $5.21. Apple will report its earnings for the March quarter on April 20th.
A Pennsylvania man has filed a class action lawsuit against Apple in a U.S. District Court in San Francisco alleging that the firm deliberately targets children with free applications that have appealing in-app purchases. Garen Maguerian believes that kids are purchasing in-app content and unknowingly costing their parents bundles of cash. In-app purchases are a great way to purchase extra content, such as levels or characters, in games. However, games such as Smurf’s Village or FarmVille can charge up to $99.99 for extra content that can be used to advance further in the game. “These games are highly addictive, designed deliberately so, and tend to compel children playing them to purchase large quantities of Game Currency, amounting to as much as $100 per purchase or more,” the suit says. Maguerian believes Apple is fostering these actions by allowing children to buy currency with the same iTunes App Store password they use to download free games. Since minors are entering the agreement with Apple to pay-up, Maguerian thinks that the contracts are not valid. “Apple has not offered to return to its account holders any of the millions of dollars it received from their minor children’s purchases,” Maguerian said in the lawsuit, which he is seeks refunds (including interest), damages, and legal fees. More →
We would like to extend a warm, Apple-rumor fueled welcome to Mr. Kevin Kenney. Technology blogs have picked up on the hiring of Kenney, a San Francisco-based mechanical engineer, by iDevice maker Apple, Inc. Via Kenney’s LinkedIn profile, we see that he is now a “Senior Composites Engineer” for the Cupertino-based company. The engineer has spent the last fourteen years working for Kestral Bicycles where, as 9to5 Mac reports, he was “building carbon fiber bicycles.” The hiring has ignited rumors of carbon fiber iMacs, iPads, and iPhones — personally, we’re holding out for a carbon fiber Magic Mouse. Kenney has worked for Apple on a contract basis for the past several years, and his name is on at least one carbon fiber-related Apple patent. If you read that the iPhone 6 will be made of composite materials , you now know where the rumor started. More →
On Wednesday Microsoft confirmed with enthusiast blog LoopinSight that it will launch Service Pack 1 for Microsoft Office for Mac 2011 next week. The update will reportedly include performance enhancements, as well as security and stability fixes, but it will also include major changes for Outlook for Mac. After applying the software patch, users will be able to sync their Outlook calendars, tasks, notes, and contacts with Apple’s Sync Services, and it includes support for CalDAV calendars. The update will also add a new redirect and resend buttons. iPhone and iPod touch devices will also stay in sync, Pat Fox, Microsoft’s senior director of product management told The Loop. Service Pack 1 does come with one caveat, though: users will not be able to use Sync Services to sync with the MobileMe calendar beginning on May 5th. More →
Patently Apple reports that its Cupertino-based namesake has been granted a new patent for an improved 30-pin dock connector. The interface, which is used by Apple’s iPhone, iPad and iPods, is slightly thinner and will be able to sherpa data over USB 3.0 and 2.0, and contain a dual-lane display port channel. The patents suggest that future versions of the company’s laptops, desktops, and mobile devices will utilize the new USB technologies — and that future mobile devices may be able to output to HDMI without the need for an adapter. There is an additional patent schematic after the break. More →
That’s what it’s looking like according to a leaked image from Apple.pro, a site that has in the past leaked details and images on Apple products before their announcement and release. From what we can see, the seventh generation iPod nano would keep the same form factor as the existing model, though would add a relatively large camera sensor to the back of the small multi-touch music player. We’re betting that we’ll see the new iPod nano with camera appear at one of Apple’s traditional fall music events later this year. More →
It’s Friday, so kick back and catch up on your gaming. Two popular iOS titles, NBA Jam and Legendary Wars, were recently updated with some noteworthy features. NBA Jam picked up a new roster feature which provides more current rosters for teams like the Knicks, Nets, and others. This will allow you to dunk with Carmelo Anthony and Chauncey Billups on the Knicks or Deron Williams on the Nets, for example. It’s not the multiplayer update we’ve been waiting for, but we dig being able to play as recently traded characters. Next up: Legendary Wars has been updated with a host of new features, including Retina display support, 50 Game Center achievements, 5 Leaderboards for Endless Modes, a new Armory, some bug fixes, and improved loading performance. There’s also a new free-demo of Legendary Wars in the iTunes App Store. More →
We’re big fans of ZShock and its work, so when the company decided it was going to do what it does best on a Lunatik iPod nano watch case, we had to get our hands — and wrists — on one. It takes ZShock around 3-4 weeks to create and carefully hand-set the diamonds into pave settings on the white gold watch case. The craftsmanship on here is amazing, and just what you’d expect from one of the most innovative jewelers around. The all-diamond ZShock Lunatik iPod nano watch retails for around $18,000, though custom orders with different metals and even different diamonds and stones are possible from http://www.zshock.com. Make sure to check out some photos of the diamond Lunatik iPod nano watch in our hands on gallery!
Right on schedule, Apple has released iOS 4.3 beta 3, build number 8F5166b, to developers through its online developer’s portal. The code is available for the iPhone, iPad, and iPod touch. We’re in the throes of downloading the new bits as we speak. You do the same and be sure to let us know what you find.
According to new projections issued by market research firm NPD Group, Apple is poised to break its previous quarterly sales record. For the first time, Apple’s Mac unit sales are set to surpass the 4 million mark, with fourth quarter totals expected to fall in the range of 4.1 to 4.3 million. Apple’s new MacBook Air will apparently play a big role in Apple’s record-breaking quarter, and early demand for the sleek laptop makes solid sales a foregone conclusion. NPD’s numbers, if met, will represent remarkable year-over-year growth of approximately 22% to 28%. Apple is also expected to sell between 18.5 million and 19.5 million iPods during the December quarter. More →
Hollywood Style Awards sponsor Klipsch hit us up and dropped us a pair of its brand new Image ONE stereo headphones to give away. Klipsch’s Image ONE headphones bring the company’s unique high-performance sound quality to an on-ear form factor for the first time. The cans are also among the first on-ears to feature an in-line remote and mic for use with Apple’s iPhone, iPad or iPod lines.
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- Just drop a comment below in the comments section of this post and you’ll automatically be entered to win
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- The contest is open worldwide, but you must be at least 18 years or older
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