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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (42334)	1/12/2005 7:30:20 PM
From: James Douglas	Read Replies (1) \| Respond to of 213182

More information from Reuters that doesn't touch on market share but provides more significant information about increased CPU sales - an increase year on year of almost 27%. Is the overall market for PCs increasing nearly as much as that? I'd be surprised. "SAN FRANCISCO (Reuters) - Apple Computer Inc. (NasdaqNM:AAPL - News) on Wednesday posted a quarterly profit that blew past even the highest Wall Street forecasts on skyrocketing sales of its iPod digital music players and the highest number of Macintosh computers sold in more than four years. Shares of Apple, which issued a forecast for the current quarter that was above consensus analyst expectations, jumped 13 percent in after-hours trading. Apple, based in Cupertino, California, said net income for its fiscal first quarter ended Dec. 25 nearly quintupled to $295 million, or 70 cents a share, from $63 million, or 17 cents a share, a year ago. That tore past the high end of analyst expectations, 55 cents, by a wide margin, according to Reuters Estimates, and both net income and revenue set records. "I think this momentum that happened last year is going to continue," said Owen Fitzpatrick, head of the U.S. Equity Group for Deutsche Bank Private Wealth Management. "Apple is a name in technology that at least for the next couple of quarters will have the wind at its back." Shares of Apple, which on Tuesday unveiled a smaller, cheaper iPod that starts at $99 and a slim Mac without a display starting at $499, more than tripled last year. Apple Chief Financial Officer Peter Oppenheimer said the company sold 337,000 of its all-in-one iMac G5 computers in the quarter. Revenue rose 74 percent to $3.49 billion from $2.01 billion. Analysts had forecast revenue of $3.14 billion. Apple said it shipped 4.58 million iPods in its holiday-sales-fueled first quarter, compared with 2 million in the fourth quarter. Apple shares climbed to $74 in after-hours trade on the Inet electronic brokerage from their close of $65.46 on Nasdaq. For its fiscal second quarter, the company forecast revenue of about $2.9 billion and earnings of about 40 cents a share. Analysts on average have expected earnings of 33 cents for the second quarter and revenue of $2.76 billion. Oppenheimer said Apple retail stores had a good quarter, with revenue there rising to $561 million from $273 million a year ago. Altogether Apple sold 1.05 million Mac computers, generating $1.61 billion in revenue and up from 829,000 in the year-ago quarter. Sales of iPods rose to 4.58 million units and generated $1.21 billion in revenue. (Additional reporting by Anna Driver in New York and Peter Henderson in Los Angeles" James Douglas