Apple shares set a new all-time high Tuesday, surging more than 7% after they reported a 67% jump in fourth-quarter earnings powered by strong sales of Macintosh computers as well as its popular iPhone.
Apple said Mac sales topped the 2 million mark in the September quarter. More than 1.1 million iPhones were also sold during the period.
Apple shares rose more than $13 to $188.56 in early trading amid positive reaction to the report. The stock has already been on a strong run for the year, gaining more than 100% since the January introduction of the iPhone before Monday's report.
"We believe that iPhone hype is creating a 'halo 2' that is driving sales of Macs and other products," UBS analyst Ben Reitzes wrote in a note to clients.
Reitzes, also boosted his price target on the stock to $220 from $182, and added that he expects sales of the company's popular iPod line to "recover significantly in the December quarter."
"Apple is firing on all cylinders as Macs will benefit from Leopard (shipping October 26), iPods are benefiting from the strong product cycle introduced recently, and iPhone sales will benefit from lower prices and entry into Europe," Shebly Seyrafi of Caris & Co wrote.
Now for the actual numbers, For the fourth fiscal quarter, Apple said it earned $904 million, or $1.01 a share, on revenue of $6.22 billion for the quarter ended Sept. 30. During the same period a year ago, Apple earned $546 million, or 62 cents a share, on $4.84 billion in sales. The results easily topped estimates of most analysts, who predicted that the company would earn 86 cents a share on revenue of $6.07 billion.
Apple executives let loose with a big surprise: Rather than give conservative guidance for this quarter—the period that includes the all-important holiday season—they reported expectations that were well ahead of the Wall Street consensus. Apple forecast fiscal first-quarter sales of $9.2 billion, compared with analysts' forecasts for sales of $8.58 billion. Apple also said it expects per-share earnings of $1.42—3¢ higher than the consensus analyst estimate.
What' s really great about this quarter is that Mac sales were in record territory. Driven by a record-breaking performance in higher-education sales (with the introduction of those new aluminum iMacs) of Apple moved nearly 2.2 million Macintosh computers to generate $3.1 billion, or almost 50% of the quarterly total.
iPod sales came in at 10.2 million just in line with analysts expectations, and iPhone sales were a blazing 1.19 million.
Another interesting perspective is that in terms of business segments, Apple Americas accounted for 965,000 Mac sales and $2.928B in revenues. These figures are up 24 percent and 25 percent year-over-year, and 17 percent and 9 percent sequentially.
Apple Europe accounted for 499,000 Mac sales and $1.339B in revenues. These figures are up 46 percent and 36 percent year-over-year, and up 27 percent and 15 percent sequentially.
Apple Japan accounted for 72,000 Mac sales and $255M in revenues. These figures are up 16 percent in units but down 11 percent in revenue year-over-year, and down 11 percent and 1 percent in these respective areas sequentially.
Japan is the only area that Apple is struggling and losing share, though I know there working real hard and investing a lot in the Japanese market.
This was another terrific quarter for Apple as they move forward and actually as markets closed today Apple trading at new heights, has surpassed IBM in terms of stock evaluation , market capitalization. (AAPL $161.8 billion, IBM $154.23 billion)
"Apple is firing on all cylinders as Macs will benefit from Leopard (shipping October 26), iPods are benefiting from the strong product cycle introduced recently, and iPhone sales will benefit from lower prices and entry into Europe," Shebly Seyrafi of Caris & Co wrote.
Now for the actual numbers, For the fourth fiscal quarter, Apple said it earned $904 million, or $1.01 a share, on revenue of $6.22 billion for the quarter ended Sept. 30. During the same period a year ago, Apple earned $546 million, or 62 cents a share, on $4.84 billion in sales. The results easily topped estimates of most analysts, who predicted that the company would earn 86 cents a share on revenue of $6.07 billion.
Apple executives let loose with a big surprise: Rather than give conservative guidance for this quarter—the period that includes the all-important holiday season—they reported expectations that were well ahead of the Wall Street consensus. Apple forecast fiscal first-quarter sales of $9.2 billion, compared with analysts' forecasts for sales of $8.58 billion. Apple also said it expects per-share earnings of $1.42—3¢ higher than the consensus analyst estimate.
What' s really great about this quarter is that Mac sales were in record territory. Driven by a record-breaking performance in higher-education sales (with the introduction of those new aluminum iMacs) of Apple moved nearly 2.2 million Macintosh computers to generate $3.1 billion, or almost 50% of the quarterly total.
iPod sales came in at 10.2 million just in line with analysts expectations, and iPhone sales were a blazing 1.19 million.
Another interesting perspective is that in terms of business segments, Apple Americas accounted for 965,000 Mac sales and $2.928B in revenues. These figures are up 24 percent and 25 percent year-over-year, and 17 percent and 9 percent sequentially.
Apple Europe accounted for 499,000 Mac sales and $1.339B in revenues. These figures are up 46 percent and 36 percent year-over-year, and up 27 percent and 15 percent sequentially.
Apple Japan accounted for 72,000 Mac sales and $255M in revenues. These figures are up 16 percent in units but down 11 percent in revenue year-over-year, and down 11 percent and 1 percent in these respective areas sequentially.
Japan is the only area that Apple is struggling and losing share, though I know there working real hard and investing a lot in the Japanese market.
This was another terrific quarter for Apple as they move forward and actually as markets closed today Apple trading at new heights, has surpassed IBM in terms of stock evaluation , market capitalization. (AAPL $161.8 billion, IBM $154.23 billion)
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