Regardless of how much Steve Ballmer is cackling about Apple’s problems from charging a premium, the company’s performance suggests that the House That Steve Built is extremely well-adapted to thriving in the current recession.
Over the past three months, Apple enjoyed its best-ever non-holiday quarter. $8.16 billion in revenue, up 9 percent from last year. Profits of $1.2 billion, up 20 percent from a year ago. Apple beat consensus estimates by about 24 cents per share.
Mac sales did slow down a bit, but iPod sales were up 3 percent and iPhone sales an astounding 123 percent. The company is delivering results like no one else right now. The fact that the analysts were so pessimistic (they predicted a drop in revenue and profit) should elevate the price further.
Remember — this is the first quarter without Steve Jobs in charge since his cancer treatments five years ago, and Apple did better than ever before. And we’re six to ten weeks from a new version of the iPhone. Apple is sitting pretty, and no one can touch them right now.
Steamroller, all over again.
This article is copyright Cultomedia Corp.
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