Apple announce first-quarter profits more than doubled year-on-year to $13.1bn!

richierichballs

Apple on track to be world's most valuable company after iPhone frenzy drives record profitsApple, the technology giant, reported record quarterly results after it smashed market expectations by selling 37 million iPhones worldwide in the last three months of 2011 - a performance dubbed "just unimaginable" by investors.

First-quarter profits more than doubled year-on-year to $13.1bn (£8.4bn), leading the company's share price to jump as much as 12pc in aftermarket trading to more than $460 per share.

At $460 a share, Apple would have a market cap of around $429bn, which would see it once again surpass oil giant Exxon to become the world's most valuable company.

Exxon had a market cap of $417.9bn at Tuesday's close on Wall Street, against $392bn for Apple.

Sales of Apple's hugely popluar iPhone were way above forecasts of 30m for the three month to the end of December.

Similarly, sales of iPad table computers beat analysts estimates by more than 2m units with total sales coming in at 15.4m for the first quarter, an 111pc increase year-on-year.



"Those numbers are just unimaginable. It's still an extremely well-managed company and they are showing that the product pipeline is sufficient even now to generate growth rates that are unrivaled." said Michael Obuchowski, chief investment officer at First Empire Asset Management.
Tim Cook, chief executive of Apple, said he was "thrilled" with the company's performance. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline," he said.
Mr Cook replaced Steve Jobs as chief executive in August just months before the Apple co-founder's death in October as a result of pancreatic cancer.
The record sales of iPhones were driven by the release of the 4S model a week after Mr Jobs' death. Sales of the iPhone also benefited from strong demand over Christmas.
"Everybody else is losing market share if they compete against Apple. They are dancing to their own tune," said Brian Marshall, an analyst at ISI Group in San Francisco.
Apple controls more than 60pc of the tablet computer market, with competitors such as Samsung and Hewlett-Packard struggling to come up with devices that are able to rival the iPad.
On top of this, Mr Cook said 85m people had now signed up for Apple's recently-launched iCloud service that enables users to transfer music and other data easily between their various Apple devices.

http://www.telegraph.co.uk/technology/apple/9037186/Apple-on-track-to-be-worlds-most-valuable-company-after-iPhone-frenzy-drives-record-profits.html

faceman

While I'm an Apple fan, i have found myself growing uncomfortable with the level of profit being made on ethical grounds. Considering their profits for one quarter could take a sizable chunk off our national debt, it really makes you wonder.

soundsham

ya agreed,
on the other hand cant wait for ipad 3 so I can give them another 600 snots

richierichballs

soundsham wrote: »

ya agreed,
on the other hand cant wait for ipad 3 so I can give them another 600 snots

I know it's abit of topic, but any idea when that will be?

I'm looking at buying an iPad within the next month. Could it be the same case as the iPhone saga over last year "I'll wait for the iPhone 5,"
And wait.....and wait..... and wait..... than you get an iPhone 4s?

Decisions... Decisions....

Blazer

faceman wrote: »

While I'm an Apple fan, i have found myself growing uncomfortable with the level of profit being made on ethical grounds. Considering their profits for one quarter could take a sizable chunk off our national debt, it really makes you wonder.

Personally I wish the government would manage the country as least as 10% as good as Apple..that way we might be just ok and not in the shít.

Also nice to see mention of new products in the pipeline.
Analysts say that approx every 3-4 years Apple are coming up with brand new products to sustain their growth and one is due about now...

The one problem with Apple is what to do with all that money.
Apple was recently compared to Microsoft in how they reinvest etc and for every $1 Microsoft make, their partners make $8.70 so it's worthwhile to be partnered with MS and it brings more money into the economy where it's being put to use.
However for Apple's partner's the amount is minuscule,,,it's only about a $1.27 so there's very little margins for them. It's Apple that's making the majority of the money and they're not really putting it to use.

Blazer

richierichballs wrote: »

I know it's abit of topic, but any idea when that will be?

I'm looking at buying an iPad within the next month. Could it be the same case as the iPhone saga over last year "I'll wait for the iPhone 5,"
And wait.....and wait..... and wait..... than you get an iPhone 4s?

Decisions... Decisions....

then you're better off to wait..
Ipad3 looks to be quad-core gpu with a higher res screen but you can get stock levels won't be able to keep up with demand.
If you plan on getting one on launch day then fair enough(probably march again) but if after that you can forget about it for 2 months at least.
I waited last year while my mate got his on launch date and it was 2 months before I could even get near an ipad (64gb) here...
Most of the shops were only getting in 16gb ipads and in extremely low numbers.

Sad Professor

Apple sold more iPhones last year than they did in 2007, 2008, 2009 and 2010 combined.

Whoa!

whippet

Sad Professor wrote: »

Apple sold more iPhones last year than they did in 2007, 2008, 2009 and 2010 combined.

Whoa!

and considering that Android phones are supposedly kicking the iPhone's ass in the market place ... or so android fanboys would tell you!!

Interesting to note the double digit increase in machine sales too ....

aidan_walsh

Sad Professor wrote: »

Apple sold more iPhones last year than they did in 2007, 2008, 2009 and 2010 combined.

Whoa!

Such a pity everyone is horribly disappointed by them, eh?

Heisenberg1

Sad Professor wrote: »

Apple sold more iPhones last year than they did in 2007, 2008, 2009 and 2010 combined.

Whoa!

That growth in the iPhone sales in 2011 has to be down to the Chinese market place they went crazy for the 4s release.

Yakult

Really should have bought some shares in Apple before they took the market by the ass and rocked it's world. Even if I bought only one share, I would be richer than I am now ffs I bet their shareholders are creaming their pants with a price of $460 p/s.

The Mad Hatter

Yakult wrote: »

Really should have bought some shares in Apple before they took the market by the ass and rocked it's world. Even if I bought only one share, I would be richer than I am now ffs I bet their shareholders are creaming their pants with a price of $460 p/s.

There's a guy I know who invested a virtual $10,000 in Apple in a stock market simulator in 1997, when their stock was worth less than a dollar. He's been kicking himself ever since, as he actually had $10,000 to spare back then.

Blazer

Yakult wrote: »

Really should have bought some shares in Apple before they took the market by the ass and rocked it's world. Even if I bought only one share, I would be richer than I am now ffs I bet their shareholders are creaming their pants with a price of $460 p/s.

Hindsight is great

Yahew

luzon wrote: »

That growth in the iPhone sales in 2011 has to be down to the Chinese market place they went crazy for the 4s release.

The Chinese didnt get the 4S.

pleasant Co.

Yahew wrote: »

The Chinese didnt get the 4S.

The 4s isn't being sold in b&m apple stores over there - but it is available to order online through the chinese online apple store

pfurey101

I suppose if (allegedly) you pay your subcontract workers in China a few bob and then..............

soundsham

Might tally up to figures in the us & uk where 50% of people with mobiles now have smartphones

This has to be increasing worldwide

Whereas before 2008 they were pretty non existant

Stainless_Steel

I have read Steve Jobs' biography and one thing is clear about what his goal in life was - to build a company that would long out live him. Job done.

Skerries

I just finished that book and don't know what happened to him, it just left it that he had resigned and he had cancer but then the book ended
What happened to him?, did he survive did he die
oh well suppose I will have to wait for the sequel

Stainless_Steel

He dead dude. The book was finished before he died.

clansman

Skerries wrote: »

I just finished that book and don't know what happened to him, it just left it that he had resigned and he had cancer but then the book ended
What happened to him?, did he survive did he die
oh well suppose I will have to wait for the sequel

you living in a cave?

cornbb

Skerries wrote: »

I just finished that book and don't know what happened to him, it just left it that he had resigned and he had cancer but then the book ended
What happened to him?, did he survive did he die
oh well suppose I will have to wait for the sequel

Am I the only one who smelled a hint of sarcasm? :pac:

The facts and figures are fairly astounding alright. Lets hope they keep the hits coming!