It was a mixed earnings report for Apple . Earnings for the last quarter were good, but the projections for this quarter were ugly with Apple forecasting $33.5 billion to $35.5 billion in revenues, compared to a consensus view of $38.6 billion. Bears are also likely to seize on projected lower gross margins. Apple projects gross margins of 36% -37% for the next quarter vs. expectations for 38.5%.
For the last quarter, Apple reported $10.09 in earnings per share, about in line with the consensus. Revenues of $43.6 billion came in above the consensus of $42.4 billion. Also on the positive side, Apple sold 36.4 million iPhones compared to consensus of 35 million. iPads also did better; 19.5 million iPads were sold compared to the estimate of 18 million. Apple sold about 4 million Macs in line with estimates.
The best news of the earnings is the metamorphosis of Tim Cook into a salesman. Tim Cook came across as more of a salesman on the earnings conference call in contrast with his prior calm, “I could care less attitude.” This indicates he ‘gets it.’
Steve Jobs was a master salesman. Tim Cook’s background is in the supply chain. Supply chain executives get used to salesmen from their suppliers selling to them…Read more at Forbes
