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Sun, Nov 08, 2009 - 03:39 AM EST  —  AAPL: 194.34 (+0.3099, +0.16%)  |  NASDAQ: 2112.44 (+7.12, +0.34%)

Fox Business’ Matt Egan reports Apple’s record-breaking earnings as ‘lackluster performance’
Friday, January 25, 2008 - 05:20 PM EST

"This morning's rally centered on Microsoft, which beat the street and issued an earnings forecast topping estimates after yesterday’s closing bell. Shares of Microsoft jumped 3% in early trading this morning but ended the day about 1% down," Matt Egan reports for Fox Business Network. "The company said its revenue jumped 30% from a year ago."

"The importance of Microsoft’s positive earnings announcement comes from the lackluster performance and warnings from other tech giants in recent weeks, including chipmaker Intel and Apple," Egan reports.

Full article, Think Before You Click™, here.

MacDailyNews Take: Sometimes you just have to laugh at the sheer stupidity and utter incompetence on display. These people get jobs, folks. Other people - presumably even stupider and more incompetent people - actually pay them. It never fails to amaze. What's next, Matt, are you going to report that the sky is pink, water isn't wet, and that you've just been accepted into Mensa?

Apple on Tuesday announced record financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted record revenue of $9.6 billion and record net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compared to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter.

Apple easily beat the street's estimates of $9.47 billion in revenue and $1.62 per share.

Apple shipped a record 2,319,000 Macintosh computers, representing 44% unit growth and 47% revenue growth over the year-ago quarter. The Company sold a record 22,121,000 iPods during the quarter, representing five percent unit growth and 17% revenue growth over the year-ago quarter. Quarterly iPhone sales were a record 2,315,000.

"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO, in the earnings announcement.

"Apple's revenue grew 35% year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter's record-breaking results," said Peter Oppenheimer, Apple's CFO, in the press release. "Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $0.94."

Apple's Q2 08 guidance is 29.3% over the company's Q2 07 posted revenue of $5.26 billion.

On which planet is 35% YOY revenue growth less than 30%?

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Jan 25, 08 - 05:24 pm Comment from: Dave Smith

What do you expect from a republican channel anyways? Someone with a brain?

Jan 25, 08 - 05:25 pm Comment from: 84 Mac Guy

This reminds me of my favorite line from the Refreshments' song Banditos:

"The world is full of stupid people."

Jan 25, 08 - 05:37 pm Comment from: Perception is Everything

As long as Steve continues to insist on Apple's image being that of 'developing great products' - code for gadgets, toys and hobbies - then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.

Trash 'em all you want, MDN, but it is what it is.

Jan 25, 08 - 05:37 pm Comment from: hmmmm

Don't give them hits

Jan 25, 08 - 05:48 pm Comment from: NowerNone

Dave Smith
What do you think of CNBC's Erin Burnett?

MW:head, as in "use it".

Jan 25, 08 - 05:51 pm Comment from: doc

"going to 130 no matter what results they posted"

Jan 25, 08 - 05:53 pm Comment from: ron

Deception is Everything. Yes, what is, is; unless you're Slick Willie, then it depends what is is.

Jan 25, 08 - 05:55 pm Comment from: dangerfrog

@ Perception:

So, if 'developing great products' creates a perception of a company that is second tier, what kind of mission statement produces a perception as a first tier producer? "Stealing ideas from others and making crappy products?" perhaps?

Jan 25, 08 - 05:58 pm Comment from: iDon't

Apple needs to kick Owl Gore off of their board.

Jan 25, 08 - 05:58 pm Comment from: @ Perception -- or lack of it

Hmmmm
"As long as Steve continues to insist on Apple's image being that of 'developing great products' - code for gadgets, toys and hobbies - then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world."

Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!

Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The "nay" sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.

The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.

Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.

Later,
EN.

MDN = develop as in I have to take some time to develop a life. grin

Jan 25, 08 - 06:02 pm Comment from: Greg L

Egan just simply doesn't know what he's writing about. SUE ME EGAN! That first sentence was another way of saying ‘you don’t know your ass from a hole in the ground.’

Apple's stock went down because during thier live press conference with analyists, they projected that NEXT QUARTER’S results were expected to be poorer. Not that there was a damn thing wrong with the latest quarter, which—as MDN correctly points out—set records.

Jan 25, 08 - 06:03 pm Comment from: Jubei

Geezus, is this guy an idiot? Apple had a stellar earnings report.

Jan 25, 08 - 06:06 pm Comment from: macromancer

"As long as Steve continues to insist on Apple's image being that of 'developing great products' - code for gadgets, toys and hobbies - then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world."

You keep posting the same kind of dumbass post on here under different names. Mr Toys and gadgets. Guess what you farking moron, those 'toys' and 'gadgets' earn REAL MONEY, not Monopoly money.

Keep posting, dont know what kind of point you think you're making by accusing Apple of not making 'real' products, but all it does is prove what a total idiot you are when they announce record earnings every single quarter and record Mac sales every single quarter.
account

Jan 25, 08 - 06:09 pm Comment from: Greg L

Oh, and regarding “Perception is Everything”, ignore the dork. He's just being intentionally provocative to see if he can make any waves whatsoever in the space-time continuum. If everyone will just ignore him, he will go back to doing what he likely did as a kid: spraying graffiti on things so he doesn't feel as insignificant as he really is.

Jan 25, 08 - 06:10 pm Comment from: Cartoonasaurus

WARNINGS!!!!

Apple DID warn that the following quarters would be NOT AS GOOD.

And based on that, their "value" fell, KER-SPLAT! (buy some now - it's a great bargain!)

Warnings = APPLE.

This guy was dead solid accurate. MDN, dead solid wrong.

Jan 25, 08 - 06:11 pm Comment from: W

F U Dave!

Jan 25, 08 - 06:15 pm Comment from: Greg L

If Egan had been correct, he would have written “…lackluster performance OR warnings from other tech giants in recent weeks.” Instead, he wrote “…lackluster performance AND warnings from other tech giants in recent weeks.” Either Egan doesn't know how to write clearly (a fatal failure for a financial writer) or he was being purposely misleading (a fatal failure for a financial writer).

Jan 25, 08 - 06:20 pm Comment from: MikeK

"Geezus, is this guy an idiot? Apple had a stellar earnings report."

Yes, and they also posted a low guidance, below expectations. Guidance is was Wall Street ALWAYS looks to.

Steve Jobs knows this, Peter Oppenheimer knows this, Analysts know this and Investors know this..

So whatever their reasons for giving a low guidance, it was an even lower guidance than usual. This is the reason for the sell-off folks. It's nothing new and it's nothing personal against Apple. It's just how Wall Street works.

Jan 25, 08 - 06:24 pm Comment from: Perception

@macromancer

AAPL 25 days ago: 200
AAPL today: 130

I rest my case.

You miss my point... I don't want Apple to build computers that are better than the worst, I want them to build machines that are FAR SUPERIOR to the competition - something they can do and are not doing because of the distraction of tinkering with toys.

And, don't tell me they already build computers that are far superior - they don't. The could, but they don't.

If they did, they would not have to worry about whether the competition in the phones and tunes players world were going to continue to sell when dozens and dozens of other brands are as good and much less costly.

Repeat: I rest my case.

Jan 25, 08 - 06:25 pm Comment from: Digital Mercenary

Maybe he used a Vista calculator which shows that a 30% increase is a larger percentage increase than a 35% increase.

Jan 25, 08 - 06:27 pm Comment from: Perception

@Greg L

You, too, miss the point. Business writers will NEVER recognize Apple in the first tier of the serious computer maker world as long as the image Steve is determined to project is one of a stubborn old hippie (very rich one, nonetheless) who is obsessed with toys.

Jan 25, 08 - 06:33 pm Comment from: Greg L

@Perception,

You mean “business writers” like John Dvorak, who in 1985 wrote about how "WIMP" computers (Windows, mice, pull-down menus) will never take off? Or "business writers" who don't understand that Apple’s market penetration of 5% in 2006 became 7% in 2007, and is projected to be 9.5% in 2008?

Jan 25, 08 - 06:40 pm Comment from: Perception

@Greg L

Exactly. We don't like 'em and they make great targets for all the moron, idiot, etc. name calling that gets launched around here all the time, but they use Apple's main weakness - that of being a producer of things designed for off beat kids - to keep the company's market share in the single digits - something that will never be exceeded on the world wide market - regardless of how many languages are loaded into the next OS version.

Jan 25, 08 - 06:50 pm Comment from: Perception

Here's the deal:

Walk into any retail tech store (except for Apple Retail Stores) anywhere, look around on the shelves where ever you find Apple phones and tunes players. What do you see?

Gadgets galore - maybe not as 'elegant' or as pretty - that do all the same things that the Apple gadgets do and so many of them at a fraction of the price for an Apple toy. How long will the sparkle on the Apple toy last - that's the question serious investors ask and they obviously don't have faith it will be for long - especially when Steve stupidly issues guidance designed to reduce expectations that has the immediate result of reducing confidence on the worst day he could have possibly picked.

Serious, far superior computers for today and for the future - that's where Apple needs to go.

Proof, again: look at MSFT this week vs. AAPL. Need I say more?

Jan 25, 08 - 06:52 pm Comment from: MCCFR

Have some perspective

Jan 25, 08 - 07:25 pm Comment from: newton*

This looks like a bear raid...circa first half of 2006...a rare chance to accumulate, as the hedge funds force it lower.

Jan 25, 08 - 07:32 pm Comment from: occams razor

I know a Smith who works for HSBC in Chester, he's a stupid person too.

Jan 25, 08 - 07:33 pm Comment from: Joe S.

Toys & Gadgets? Seems to me Apple is building a unified ecosystem that runs on OSX. Develop for one, develop across all...no one else is even close. Windows people need to pull there heads out of their collectives asses, but why start now. An interesting read:


http://www.roughlydrafted.com/2008/01/24/the-unrealized-potential-of-apples-hybrid-platform-mac-ipod-iphone-and-tv/

Jan 25, 08 - 07:51 pm Comment from: solid

ron: "Deception is Everything. Yes, what is, is; unless you're Slick Willie, then it depends what is is."


Awww, after all these years, Ronnie's still obsessed with the clenis.

Jan 25, 08 - 08:49 pm Comment from: @iDon't

"Apple needs to kick Owl Gore off of their board."

Let's just hope George W. Bush never gets on Apple's board. He's sunk more business' than Germans sunk ships.

Jan 25, 08 - 08:54 pm Comment from: bond co. stooge

Pete, it's not hard to see why they fired you.

Jan 25, 08 - 09:04 pm Comment from: Hm...

Wow. Tis amazing that:
- drivel that gets repeated gets accepted into conventional wisdom
- that some still think Apple makes toy computers (as I run a process on a 31 cpu Xgrid!)
- the Windozoid fanbois need to come here to rant about Apple & fans

It's just a company that makes great products that sold record amounts — get over yourselves, Winbois! Don't worry, Windoze will still be around for a long time — the hegemony will fade slowly. Your Tech Support jobs are safe for the next decade. Now go back to your games and let us enjoy the good news and ignore the temporary stock manipulations.

Jan 25, 08 - 09:46 pm Comment from: cheater

Yeah, and NPR reported that Apple reported a "less than stellar" first quarter '08.

Give me a friggin' break: Apple reports the best quarter of revenues and profits in 24 years and the idiots at NPR called it a "less than stellar" performance.

Typical crap that passes for journalism these days...

Jan 25, 08 - 10:08 pm Comment from: lrd

Guys- Just go to an Apple Store on a Saturday or Sunday and you'll see the real deal. They're packed! So just thank god that 99.9999 of people don't listen to those agenda driven idiots.

Jan 25, 08 - 11:02 pm Comment from: Davewrite

Apple doesn't do a very good job defending themselves when press errors are made, they seem to think they don't need to. 200 to 130 share price drop in days due to many misleading news items and not one word from Apple management.

Their relationship with financial analysts also seem distant at best. During one of the important Apple events (the new imac launch if I remember correctly) last year financial writers complained not one of them were invited: only tech writers got invitations. Other fortune 500 companies fawn over stock analysts to get good press, Apple doesn't seem to care about this (Does this come from Steve's disdain for 'suits'? Wired magazine says he calls them 'orifices') Many finance writers are Prima Donnas and they are going to sting back.

Jan 26, 08 - 01:14 am Comment from: derekcurrie

This droid is from F*X? BWAHAHAHAHAHA! That explains everything. That anyone believes anything NewsCorp reports is simply a testament to how easily another cult of thugs, à la Fascists and Nazis, could take over a government and start WWIII. Feed the sheeple what they want to hear and they'll follow you anywhere, including the slaughterhouse.

But back to Earth: This is yet another great time to grab Apple stock while its cheap, before the bozos catch on.

Jan 26, 08 - 01:15 am Comment from: john

STUPIDITY AT ITS BEST! CONGRATS MATT!!

Jan 26, 08 - 08:41 am Comment from: Mac lover

Perception - you need to get your head out of Gates rear-end. If I try to write how wrong you are on most of your points, the words would go into the thousands. Yep look at MSFT, XBox 360 that overheats, Vista (5 years of waste and the only reason they are sell is because you can't get a PC without Vista) and Zune the iPod killer HAAAAAAAAAAAAAAAAAAAAAAAAAA! Yep invest in them instead of the maker of iPods (still selling millions), iPhone (sell millions with growth in the future), Laptops selling like crazy with more growth to follow, Movie rentals on iTunes just starting, Apple TV, Macbook Air, etc.. Take a few weeks out a year and base your investing on that, what a retard. MDN - right again, keep me smiling with those great responses.

Jan 26, 08 - 08:46 am Comment from: HueyLong

Fox Business Channel:
Murdoch pumped $200 million into its launch in October.

It poached several prime-time presenters from the established leader, CNBC. So far it's been an utter, miserable failure. Only 283,000 viewers tuning in.

They're talking to no-one. Who gives a sh*t what Fox "Business Channel" says.

They are a joke.

Jan 26, 08 - 09:35 am Comment from: BiZarRo BaLlmEr

Perception go sit on your toy maybe it will open your eye

Jan 26, 08 - 10:00 am Comment from: ron

@Davewrite. That is the most perceptive thing written in a long time on this site. Thanks. ron.

I'm happy you're not Davewrong.

Jan 26, 08 - 11:58 am Comment from: roobler

I Never Click™

Jan 26, 08 - 12:01 pm Comment from: roobler

oh and:

IF You Don't Understand The Market, Don't Invest And Complain™

Jan 26, 08 - 12:03 pm Comment from: Rick from Quantico

Bottom line is that Steve should take out a full page ad add in the WSJ disputing all of these so called subject matter experts line by line.

In the meantime, the rest of us who do believe should invest more heavily in Apple because we won't see this stock this low probably ever again...

Jan 26, 08 - 12:29 pm Comment from: ChrissyOne

@ Perception

You're a buffoon.

I rest my case.

No, seriously, your idea has a major flaw - consumers, for the most part, do not want computers that are 'far superior'. They won't buy them. They want the cheapest thing they can get from Wal*Mart to run the interweb. Or maybe they want one that's a little nicer to play games on.
If Apple built 'far superior' machines (that would have to cost a lot more) then even fewer people would buy them. You leave out the cost factor in your screed - and that's important. Do you think that they just build computers that are 'just enough better' and keep a bunch of extra cash? Engineering costs money, and more engineering drives up cost. That's what 'far superior' costs.

Now, Apple could do this, and sell to an even smaller, more exclusive boutique audience, and the platform would shrink. And that would be an idiotic idea worthy of your praise. Yay! What will the pundits say now?

Simple economic reality, son.

Now STFU.

Jan 26, 08 - 12:31 pm Comment from: ChrissyOne

"Proof, again: look at MSFT this week vs. AAPL. Need I say more?"

Not if it's going to be that fscking stupid.

Jan 26, 08 - 01:17 pm Comment from: therepguy

It's Fox... who cares...

When was the last time you saw a Fox story of any kind that you could believe?

This is why Fox Business Channel is a complete failure... there going no where but into the trash!

Jan 27, 08 - 12:23 pm Comment from: ElderNorm

@ChrissyOne
"No, seriously, your idea has a major flaw - consumers,"

Chrissy,well said... you are my hero! (heroine? what ever) grin

en

Jan 27, 08 - 04:10 pm Comment from: Tom Wieliczka

Wouldn't doubt it if FAUX Reporters had PUTS on APPL before their slanted Apple Earning Repot.

Just wondering if the new FAUX BUSINESS STATION will increase their Year over Year "watching share" by 35 percent over CNBC or BLOOMBERG next year?

Jan 28, 08 - 08:16 am Comment from: ?what?

yeah i for one have to agree that anything coming out of FUX NEWS has got to be some form of propaganda...thats all they really do besides telling you to SHUT UP! oh and perception....STFU you retarded windoze fanboi.

Jan 28, 08 - 05:25 pm Comment from: Sky

@Perception is Everything

The double standard, as I see it, is that Microsoft cut its teeth on the promise of distributed computing power - a computer in every home. Hats off to them for helping pry computing power away from mainframes and into homes.

But in their efforts to one-up competitors in the feature war and lock buyers into proprietary standards, Microsoft's core products grew into cumbersome versions more suited to corporations with big IT departments. Look at Office, which requires server extensions to unleash some of its most useful features.

Today's Microsoft barely resembles a *personal* computing company, yet they continue to get a free pass from apologists who deny that Macs are superior for the vast majority of home computer users simply wanting to send a note to cousin Bob, find a roast turkey recipe online, write a letter, pay a bill or maybe create a digital scrapbook.

Cheer 'em all you want MDN; it is what it is.

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