Earnings call wrapup

Listening in on the call today, Apple’s leaders including Steve Jobs (who made a rare earnings call appearance) seemed very upbeat and very – dare I say smug- about hording lots of cash.  It’s funny to hear an investment banker wonder why Apple is hoarding cash (they really did ask) when their industry has been torn apart by the lack of prudence in this area.  Apple has $25 Billion which Steve said, could be used to hire every Engineer in the Valley "Good idea!"

When Asked about a tablet, Jobs said "we don’t talk about future products"

When asked about Netbooks, he said "we compete in this market already with iPod Touches and iPhones.

Apple is the 3rd largest phone maker in the world by revenue!! 


Samsung #2
Apple #3

Apple beat RIM by unit sales and as an analyst mentioned, most of RIM’s sales are repeat customers.  Almost all usable iPhones are in use.

The iPhone accounts for 40% of Apple’s business and is also its biggest opportunity for growth…

It is hard not to be optimististic after all of this.  Especially for the iPhone market.

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