BOOM! Apple has officially shattered their goal of selling 10 million iPhones by the end of calendar year 2008.
Arguably the biggest piece of information announced in today’s 4th quarter earnings conference call was Apple’s iPhone sales. Apple has explained that in this past quarter 6.9 million iPhone 3G’s were sold. This exceeds all previous iPhone quarters (sales) combined.
Additionally, “Apple has posted revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share. These results compare to revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 33.6 percent in the year-ago quarter. International sales accounted for 41 percent of the quarter’s revenue.”
Wow, what a different situation Apple’s stock is in when compared to its price during Apple’s Q3 Earning Call. “Before the [Quarter 3] conference call, Apple shares (AAPL) were trading at around $166-$172/share.” Today, shares of Apple closed at $91.49 falling -6.95 (-7.06%) per share. Standing firm on the belief that Apple will continue to outperform, the stock could end up being a “buy” for many people. If Apple can hold out for another 18 months, through what is inevitably going to be a tough 2009, shares of the Cupertino tech firm could stabilize and more accurately reflect the company’s revenue and premium market position.
Apple’s earnings releases can be found in the Investor Relations section of their website, and today’s Press Release specifically can be found here.
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