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  • Apple Inc. (AAPL) Climbs - Sales Forecast beats Estimates

    Wednesday July 21st, 2010, 07:42 am EST

    Apple Inc. (AAPL) announced financial results for its fiscal 2010 third quarter ended June 26, 2010 Tuesday after market close. The Company posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share compared to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.

    Net income for Apple Inc. (AAPL) leaped 78 percent and revenue reached a record last quarter. “It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

    Apple sold 3.47 million Macs, 8.4 million iPhones in the quarter, 9.41 million iPods  during the last quarter. Al the sales showed heavy increase apart from a 8% decline in iPod sales. The Company began selling iPads during the quarter, with total sales of 3.27 million.

    I am amazed how Apple Inc. (AAPL) came up with a brilliant quarter after heavy negative media notes on iPhone 4 reception issues. Apple announced free cases for all iPhone customers which will cost the company about $175 million. All credit goes to true Apple Fans who want an Apple product and who don't care about negative hypes created by media.

    Apple said that revenue for the three months ending in September will be about $18 billion. Analysts had predicted sales of $17 billion. The company also reported third-quarter revenue and profit that exceeded analysts’ predictions, resulting in gains in after hours continuing gains in regular hours on Tuesday.

    Although AAPL faces tough competition in the smartphone market, we believe that its continuous effort to expand into international markets (52% sales for this quarter came from International sales), competitive pricing strategy and new product launches will drive tremendous growth.


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