Apple stock flirts with $400 after company reports Q3 earnings

Apple stock flirts with $400 after company reports Q3 earnings
Apple reported an amazing third quarter with earnings of $7.79 per share well above estimates of $5.85. Revenue of $28.6 billion far surpassed the $25 billion expected by analysts. CEO Steve Jobs said, "We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall."

For the quarter, Apple sold 20.3 million units of the Apple iPhone 4 and 9.52 million iPad 2 units, which totally smoked estimates. For example, we recently reported that Brian White of Ticonderoga Securities was looking for 17.53 million in Apple iPhone 4 sales and 8.5 million Apple iPad 2 sales.

Apple now has $76.8 billion in cash, up $10 billion in the last 90 days, which could actually hold down the stock because such a mountain of cash can burn a hole in an executive's pocket until they use it to make an ill-thought out acquisition.

Apple estimated fourth quarter earnings of $5.50 a share, below analyst's estimates of $6.42. The Cupertino based firm predicts $25 billion in sales for Q4, lower than the $27.7 billion that Wall Street expects. It should be noted that Apple has a reputation of "lowering the bar" to make it easier for the company to beat earnings estimates.

After hours, Apple's stock soared $21.99 or 5.84% to $398.84, a new 52 week high.

source: DowJones via Yahoo

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89 Comments

1. Whateverman

Posts: 3295; Member since: May 17, 2009

Oooooo, that's a lot o money!

23. Laurynas unregistered

That's because overpriced products gives big earnings.

49. ilia1986 unregistered

And hordes of underdeveloped idiots who blindly buy them give even bigger earnings.

77. rhomaion

Posts: 187; Member since: Sep 23, 2009

You get what you pay for... in your case it's probably a Optimus V... lmao

2. heatfan316 unregistered

Who gives a rats ass, 20 million iPhones and 10 million ipads for the quarter all I got to say is 550,000 android devices activated daily do the math android is still number one

4. taco50

Posts: 5506; Member since: Oct 08, 2009

troll

50. ilia1986 unregistered

taco you're an idiot.

53. Wowe1234 unregistered

Hey... You can spell....

76. rhomaion

Posts: 187; Member since: Sep 23, 2009

Ok, so what your saying is that every manufacturer that wants to sell an Android phone can without paying a license fee and when you combine the numbers of activations of Android OS from all these manufacturers that they outnumber iOS activations? Well at least they can do something right. Fact is iPhone still outsells any other device because no other device is as good.

81. Phoneguy007

Posts: 218; Member since: Jun 02, 2011

but android has more than 1 device

82. Phoneguy007

Posts: 218; Member since: Jun 02, 2011

but who really cares what do you people really have against apple.....I love my iphone and my android phone....

3. bucky

Posts: 3774; Member since: Sep 30, 2009

Nice! Only took 4 years, 15 companies and hundreds of phones to catch up to one company and one phone! Not something to brag about dude...

5. Mjay90 unregistered

Give me at least a 4inch(4,3inch preferably) screen and add Flash to the browser and I'll throw my android phone out the window and I'll buy my first iPhone !!!! :D

30. stealthd unregistered

Meh, 25 minutes of audio-only flash streaming on my Atrix brought down the battery 40%. Having flash isnt doing anyone any favors in my opinion.

34. Winston unregistered

Sounds like: 1) You don't actually have an Atrix; or 2) The battery was actually at 45% to begin with; or 3) You should have bought the Galaxy S2! Let me see....to have Flash or not to have it....tough choice. For those Apple users who don't have Flash and say they don't care....called sour grapes my friend.

35. cheetah2k

Posts: 2198; Member since: Jan 16, 2011

Its not all flash, its how its implimented on the handset that counts. Apple have cited security reasons for not adopting it on iOS. I call BS, and think its more to do with strained Adobe vs Apple relationships. .... and where is HTML5 these days? zzzzzzzzzz

38. taco50

Posts: 5506; Member since: Oct 08, 2009

I use an iPad and I'd say 75-80% of websites are html5

56. android_hitman unregistered

u are stupid ... stop trolling around

74. pandamaja unregistered

When trying to understand to lunacy of this claim, it finally occured to me. Here Taco, I fixed that for ya: "I use an iPad and I'd say 75-80% of the 10 websites I frequent are html5" This makes more sense.

90. taco50

Posts: 5506; Member since: Oct 08, 2009

This is coming from research not me Google it to see why you're wrong troll.

71. PhoneLuver

Posts: 481; Member since: Jul 05, 2010

I tend to agree.. Flash uses tons of resources! I disable it on my browser. It all seems too much effort to bother..

6. BobbyTaba

Posts: 316; Member since: Aug 11, 2010

I like android way better and i would like heat fan comment but the stupid ipad won't let me

11. taco50

Posts: 5506; Member since: Oct 08, 2009

I can like comments from the iPad all the time. Sounds like you're not smart enough to use the internet.

80. herejere

Posts: 1; Member since: May 15, 2008

That's probably why he bought an iPad... jk.

7. heatfan316 unregistered

If anybody is a troll it would be you taco the reason apple does so good with only one phone is because its the only one available and people here in U.S follow trend all they know is apple if sgs2 was the only andriod device available it beat apple in sales worldwide people need to put the devices side by side and see how much power the samsung has it is a superior device

12. taco50

Posts: 5506; Member since: Oct 08, 2009

So why isn't it beating Apple in sales? Let's see because there's other android phones? Well doesn't Apple compete with those also? Are you from the US? You're english is very bad.

36. cheetah2k

Posts: 2198; Member since: Jan 16, 2011

Hang on... How long has the SGSII been available people?? Lets have this conversation in 12 months and then do the math. My $$ is on the SGSII

40. bucky

Posts: 3774; Member since: Sep 30, 2009

That's just silly.

42. taco50

Posts: 5506; Member since: Oct 08, 2009

You fandroid trolls are getting pathetic. Every month you tell us how your new flavor of the month crapdroid will beat the iPhone and it never does. Guess what Apple crushed with a year old phone. Upcoming quarter we have iOS 5, iCloud, iPhone 5 on more carriers and the holiday season. GAME OVER FANDROIDS

46. lolz unregistered

Zzzzzzzzzzzzz!!!

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