Apple today released their 2007 Q1 results, and they were stellar: Record $7.1 billion revenues and record $1.0 billion profit, or $1.14 profit per share. AAPL was up from $94.95 at close to $99.48 after the financial conference call initially in after hours trading, but it settled down later to just over $94. Some details:
1.606 million Macs shipped, including 969000 laptops
21.066 million iPods shipped, up 50% year over year
Gross margin was 31.2%, up sharply
Cash reserves at $11.9 billion, up $1.75 billion this quarter
The 21 million iPods shipped last quarter shocked many analysts, but ironically Mac sales were lower than many predicted. In fact, despite this being the Christmas quarter and the fact that new laptops were released during this quarter, it was lower than the previous quarter's 1.61 million Macs shipped.
Perhaps it's this flat Mac sales and the rather tepid guidance for next quarter, along with the expected profit taking, that caused AAPL's drop to $94.17 after the conference call.
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