Apple on Tuesday reported earnings for the third quarter of fiscal 2011. Shares of Apple Tuesday were trading at near-record levels as investors expected Apple to post its biggest June quarterly earnings ever, and the company didn’t disappoint. Wall Street was predicting revenue of $24.92b, a whopping 58% YoY increase, and Apple’s revenue for the June quarter came in at a mind-blowing $28.57b. Analysts predicted 16.5 million iPhones, 4.2 million Macs, and 7.8 million iPads with actual sales coming in at 20.34m iPhones, 9.25m iPads, and 3.95m Macs. Press release is after the break:
We’re not going to say this is the dumbest thing we’ve ever heard… but it’s certainly up there. The Street contributor Anton Wahlman has honed in on what he is calling “the biggest risk” to Apple’s stock price. This risk is so great, in fact, it surpasses the health of current CEO Steve Jobs on his list of concerns. It is even ranked higher than Google’s Android mobile operating system. This apocalyptic threat is… Google Chrome OS? In a three page exposé, Wahlman explains three ways the browser-as-an-OS will hurt Apple’s stock price. First, Chrome OS desktops and laptops will be released and priced between $150 and $300, which in turn will cause “consumers and enterprises” to “pick Chrome OS PCs over the much more expensive Apple PCs.” Second, Chrome OS will make its way onto tablets and “we could see unsubsidized 10-inch Chrome OS tablets selling for no more than $299, with perhaps $199 on the horizon.” Lastly, in 2012 or 2013, “Google will likely offer the Chrome OS architecture for smartphones.” As John Gruber of Daring Fireball wrote, “Makes Me Wish I Still Did the ‘Jackass of the Week’ Bit.” We like when analysts think outside the box, but the threat vectors that Wahlman lists also seem to be detrimental to Android’s overall health as well — especially the tablet and smartphone predictions. Apple generated 50% of its Q2 revenue from the iPhone, if there is any threat to Apple’s business model we can assure you it’s Android, not Chrome OS. Regardless, we’re interested to know your thoughts. Do you think Chrome OS is a grave threat to Apple? Put on your monocle and thinking cap and drop us a comment with your musings. More →
According to Scott Moritz over at The Street, sales of the Verizon iPhone toppled the one million units sold mark during opening weekend. In a blog post today, Mr. Moritz details just how he arrived at this number. “Dan Mead, Verizon Wireless chief, told media outlets this weekend that 60% of the company’s iPhone sales were preorders,” quips Moritz. “Recent analyst estimates say Verizon’s iPhone preorders totaled 600,000, and if that was 60% of total sales, then 1 million iPhones were sold on the debut weekend.”
Feels sort of like the movie Inception, doesn’t it? A dream within a dream is very unstable. In this instance, speculation within speculation also seems pretty shaky (perhaps Mr. Moritz needs Yusuf to taylor compounds specific to his needs).
Verizon continues to emphasize the strength of its iPhone sales and that it will not discuss exact figures until its first-quarter earnings call in April. Thoughts? More →