Apple Earnings Boom For First Quarter
May 29, 2010 Tech News
Posted by
Charles
Since the iPod renaissance after a reclusive streak in the 90s, Apple has been a growing empire, and the Apple earnings for the most recent quarter have blossomed. Since the company has sold a lot of iPhones and the iPhone 4.0 and iPad beginning to take off, Apple is set to never need payroll loans again. Even though recessions mean that fewer people buy toys, Apple posted impressive gains for the first quarter of this year.
Apple earnings from iPhone up over 100%
A recent Marketwatch post reports Apple earnings are booming for the first quarter. The iPhone drove sales through the roof, selling over 8 million iPhones when they were expecting to only sell 7 million. They enjoyed a 130% sales increase of the iPhone from a year ago. Apple is rightly swimming in dough, since they’ve unleashed a product that is so good it gets that many people to lay down money now for it. They have become a true success story not once, but twice, as apparently they make some vastly superior products.
They also sell Macs
The report of Apple earnings also included some heavy sales for Mac computers as well. Nearly 3 million Macs were purchased over the quarter, showing a sales increase for their computer brand of about 40%. The iPod sales volume dipped one percent, but not revenues. (iPod sales revenue were actually up about 12%.) The iPod Touch has been popular too.
How about the iPad?
No official sales figures were given by Marketwatch, but CNN reports that Steve Jobs had told a conference that Apple had sold around 450,000 units for the basic unit alone. The Cadillac model of iPad, set to come out soon, may have access to the AT and T 3G network, instead of the current model’s use of WiFi only. Apple stock will probably skyrocket, but since their stock is at $ 258 a share, they probably don’t need the help.
What is Apple working on next?
For now, the iPhone OS 4.0, which was involved in the recent Gizmodo leak. They did give it back. The new model iPhone will likely sell a lot of units, and since the iPhone OS 4.0 will also mark the rumored debut of the Verizon iPhone, it is foreseeable that Apple earnings will shoot to the moon by year’s end.
Resources
Marketwatch
http://www.marketwatch.com/story/apple-earnings-soar-on-strong-iphone-sales-2010-04-20?reflink=MW_news_stmp
CNN
http://money.cnn.com/2010/04/20/technology/apple_earnings/index.htm?hpt=T2
Tags: Apple earnings, iphone, money now, payroll loans