Apple’s Profit Is Sky High…. But Outlook Is More Down To Earth

This is one of those good news, bad news sort of stories. First the good news:

  • Apple sold more iPhones than RIM did BlackBerries during this past quarter. Some people in Waterloo must be freaking.
  • Apple pulled in $1.14-billion in profit for the quarter, or $1.26 per diluted share.
  • Apple said it sold more Macintosh computers than in any other quarter in the company’s history and more iPods than in any other non-holiday quarter. Some Microsoft execs must be throwing chairs.

Now here’s the bad news:

  • Apple is forecasting a revenue range of between $9-billion and $10-billion and earnings per share between $1.06 and $1.35 for the next quarter. The street is looking for $1.67 per share on revenue of $10.7-billion. Clearly, Apple feels that the current economic situation is going to hurt them.

Strangely, this hasn’t affected after hours trading. Apple stock is up 11% as I write this. So who knows how this will play out.

You can read the Apple press release here and listen to the conference call here.

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