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Is there anything Apple
For the quarter, Apple earned $6.40 per diluted share on $24.67 billion in revenue. Analysts had been calling for $5.36 a share and $23.34 billion, respectively.
Who cares whether Steve Jobs is still on medical leave? Apple trumps Wall Street's prognosticators. Again. More details from the report:
- iPhone unit sales were up 113%, contravening earlier reports that Google's
(Nasdaq: GOOG)Android put a temporary kibosh on growth.
- Mac-related revenue soared 32% year over year while unit sales improved 28%. Laptop revenue grew 59%.
- Revenue from the once-iconic iPod fell 14% year over year, but sales of music, video, and e-books grew 23% over the same period.
- And finally, the iPad brought in only $2.8 billion in revenue, down from $4.7 billion in fiscal Q1. Investors who are used to seeing reports of the device acting as a PC replacement may be disappointed in those numbers.
So be it. Apple still managed to crush estimates in spite of a tsunami-fueled inability to fulfill iPad demand. It's a stunning performance for a business that's spent most of the past five years taking a bite out of old rivals Dell
But is it enough to get investors buying the stock again? I'll have more on that in a follow-up commentary tomorrow. In the meantime, please vote in the poll below and then leave a comment to let us know whether you'd buy shares of Apple at current prices.
Google and Microsoft are Motley Fool Inside Value picks. Google is also a Motley Fool Rule Breakers recommendation. Apple is a Motley Fool Stock Advisor selection. Motley Fool Options has recommended that members create a bull call spread position in Apple and a diagonal call position in Microsoft. Alpha Newsletter Account LLC owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days.
Fool contributor Tim Beyers is a member of the Rule Breakers stock-picking team. He owned shares of Apple and Google at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool owns shares of Apple, Google, and Microsoft and is also on Twitter as @TheMotleyFool. Its disclosure policy takes a bite out of Wall Street.