More than a month back, I wrote a post that Apple is going to post a blowout Q1. Apple had provided a guidance of USD 37 Billion but astute Apple Analyst Horace Dediu had predicted revenues closer to USD 44.6 Billion and I had concurred with him.
Guess what, Apple even surpassed this mind boggling estimate, they actually did USD 46.33 Billion. Simply mind boggling!
Some key highlights
- $ 46.33 Billion in revenue, a record
- $ 13.06 Billion net profit
- Gross margin at 44.7 %
- 37 million iPhones sold
- 15.43 million iPads sold
- 5.2 million Macs sold
- 15.4 million iPods sold
- Apple now has more than $ 98 Billion in cash and cash reserves
These numbers are just wow! No technology or consumer electronics company has ever achieved such massive profitability as pointed out by this chart
Apple’s net profit for this quarter dwarfs all of Google revenue for the quarter.
It is a good time to be an experienced iOS developer. 67.83 Million iOS devices and 5.2 million Macs were sold just this quarter. Developers were paid more than $ 700 million via the app store.
As I had pointed out in my last post, you should have been a concerned person if you had been short Apple. In case you still were there is a high probability you would be wiped out after the markets open on Monday.
Apple has set the stage to become the largest company by all financial measures, except probably revenue. This is simply because they are years ahead of the competition. They have a vise like grip on the supply chain.They have blindsided all the major tech companies and all its competitors are scrambling to catch up. None is even close.
Android is becoming something of a mess right now with major device and OS fragmentation issues. Google needs to address this pretty quickly. The time to develop and test on Android has already gone up considerably.
BlackBerry is doomed. I do not foresee any way they can come back. Their devices, OS and the developer tools are simply not good enough.
Windows Phone 7, though promising is yet to make a mark. Tim Cook mentioned in the conference call “There’s a horse in Redmond that always suits up” and this possibly is the best compliment Windows Phone 7 has gotten yet.
It was an awesome quarter for Apple. But many people fail to understand that the seeds of this success were sown many years ago. When a visionary, firm in his view of the world marched on, relentlessly, against all odds and criticisms. It took him more than 20 years to keep perfecting perfection. This historic quarter is not something that happened in the past 3 months, it was the the culmination of the efforts for a lifetime.
And definitely Gruber is gonna have some fun as he opens his claim chowder files
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