Apple’s $8.8 Billion Profit Increase
Some Analysts expected that Apple wouldn’t get good profit for the 2nd quarter, Acknowledging Samsung to lead. Apple has been able to garner an increase of their profit to $8.8 Billion on iPad sales. But Wall Street says fiscal quarter to June Profit was up 20.5 percent amounted only by $9.32 dollars a share, it’s below the consensus forecast of $10.36 dollars a share and even though Revenues rose by 22.5 percent to $35 billion, it was still below that targeted $37 billion.
Here’s what Apple has to say:
Revenue below Target forecast:
Revenue in the previous quarter was hampered by weak sales in Europe, a strengthened US dollar, and rumor of a new iPhone poised for release. Apple said it was pleased with the results.
Apple’s CFO (Peter Oppenheimer)
said “Our weekly iPhone sales continue to be impacted by rumors and speculation about new Product”, Apple factored for a product transition by September into financial guidance this quarter, this will be a word of mouth and speculation for the release of Apple’s iPhone 5.
“I’m not going to put any energy into stopping people from speculating,”
“I’m glad that people want the next thing, and I’m super happy about it”
Apple Quarter Highlights:
Apple said the results were good, with sales of 17 million iPads, a year-over-year rise of 84 percent.
The company also sold 26 million iPhones in the quarter (That’s more Samsung sales hit or pre-ordered 10 Million Samsung S3 Units) a 28% increase.
Sold 4 Million Macs, a two percent Increase of unit considering competition in the computer industry sales inching a small percentage in the quarter.
Cook Said, “We’re thrilled with the record sales of 17 million iPads in the June quarter”
Plus, “We’ve also just updated the entire MacBook line, Apple will release Mountain Lion (Computer OS) and will be launching the iOS 6 this fall.
Tech Analysts Side, Product Transition and Upcoming Highlights:
Most of them still have a good future view comeback for Apple. The product transition as said by Apple that might include the much awaited release of the Apple iPhone 5 that would increase their revenue of Apple for the 3rd and 4th quarter, this might result Apple fans to sell their old iPhones or sell electronics just to buy the iPhone. Some Reports, that Apple could release the rumored smaller version of its iPad tablet.
Peter Misek at Jefferies & Co. On the “pre-iPhone 5 inventory adjustment” reiterated a target price of “$800” for the buy rating. Also saying Apple’s management is conservatively not including the iPhone 5 launch in our view…
A similar view by Ben Reitzes (Barclays Capital Analyst):
“We believe that Apple is perhaps the most disruptive company in tech and is poised to gain more share in Smart Phones, but we will be watching the developing situation closely.
eMarketer’s on Apple and handsets powered by Google’s Android expects, Smartphone Market Share (US) Apple expects an inch up one percentage to 31 percent this year, for it’s rival, share for handsets powered by Google-backed Android software to get a 41 percent hit.
Along with these good reports for Apple are Issues covering Copyright Infringement against it’s Rival (SAMSUNG). A pre-trial will begin Apple accusing Samsung of copying certain features of the iPad and iPhone. Apple is seeking for a $2.5 billion in the case (Federal Court, California).
So what’s not new? Apple and Samsung has been battling in court for many years now both on accusing on infringing on patented technology in Smartphones or tablets.
Click here as “Apple claiming $2.525 billion from Samsung for damages”