Apple passed an important milestone last quarter that nobody on Wall Street seems to have noticed: the iPod, once Apple's (AAPL) No. 1 source of revenue, fell into third place after the Mac (No. 1) and the iPhone (No. 2).
Think of Apple's business model -- as Steve Jobs often does -- as a three-legged stool: Mac, iPod, iPhone. As recently as 2006, the iPod leg accounted for 55.5% of Apple's MOREPhilip Elmer-DeWitt - Aug 5, 2009 6:27 AM ET
Apple (AAPL) on Wednesday posted sharply higher revenue and earnings in its second fiscal quarter of 2009, beating both its guidance and analysts estimates.
iPhone sales were particularly strong -- up 123% year to year -- and seem to have offset a 3% decline in the Mac division.
The headlines from the company's press release:
Revenue: $8.16 billion, up 8.16% from $7.94 billion in Q2 2008
Profit: $1.21 billion, up 15.8% year to year MORE
When Apple (AAPL) reported its fiscal 2009 first-quarter earnings, exactly three months ago, the stock opened the day at $78.20, its lowest point since October 2006.
On Wednesday, when Apple is scheduled to report its second-quarter results, the same shares opened at $122.27 -- a 56% increase.
While that's still below the price targets set by most analysts -- many of whom revised their targets upward in just the past week -- MOREPhilip Elmer-DeWitt - Apr 22, 2009 9:32 AM ET
This was a live blog from Apple's (AAPL) third quarter 2008 earnings call, posted in reverse order with the newest entries on top. The call is scheduled to be replayed starting at about 8 p.m. ET Monday at the following numbers: (888) 203-1112 (toll free) or (719) 457-0820. Confirmation code: 4120259. A transcript is available here.
6:00 p.m. We're done. The headline: Led by record Mac sales, earnings were up 31% MOREPhilip Elmer-DeWitt - Jul 21, 2008 3:36 PM ET
"You know, I think it wouldn't be a party," Steve Jobs told Fortune in February, describing the future of his company if, as he put it, Jobs got hit by a bus. "But there are really capable people at Apple. ... My job is to make the whole executive team good enough to be successors."
Life at Apple without Jobs may be more than just a hypothetical. The 53-year-old Silicon Valley MOREPhilip Elmer-DeWitt - Jun 24, 2008 11:20 AM ET
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