Reading Apple’s (AAPL) financial reports is sick. It’s like looking at those comic book superheroes with monstrous muscles and tiny waists. It’s unreal.
In the just completed quarter, Apple had revenues of $7.5 billion – up 43% from the year ago period – and net income of $1.05 billion – up 36% from the year ago period. They sold 2.3 million Macs, 10.6 million iPods and 1.7 million iPhones. They have $19.4 billion in cash and short term investments on their balance sheet – and no debt (AAPL Earnings Release).
What’s really driving their business now is sales of Mac computers, primarily laptops (Apple Computer and iPod Revenue Growth Chart).
The numbers are great but investors apparently didn’t like guidance of $7.2 billion in revenues and $1.00 EPS for the current quarter. Plus expectations were so high going into the report. Shares are about flat in the after hours.
Disclosure: Top Gun has no position in Apple (AAPL) shares.