Apple’s Stock Hits $400 a Share Afterhours!

Jul 19, 2011
J. Webster
Comments Off on Apple’s Stock Hits $400 a Share Afterhours!



Reuters Pictures

Apple is a monster of a stock that you just can’t doubt, even in these troubled times where unemployment is over 9%, the European Union is in a crisis, and the United States is on shaky ground with its own debt worries.

As we’ve said before, people will buy iPads, iPhones and Macs even if they can’t pay for their mortgage, or so it seems. In truth, Apple is just taking share from a load of companies.  Everyone is buying Apple products and not much else it seems. And yes, down below, where it says Apple has $76 billion in cash on its books, that’s not a mistake.

From Barrons:

CEO Steve Jobs remarked, “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.”

Apple sold 20.3 million iPhone units in the quarter, it said, and 9.52 million iPads.

The company sold 3.95 million Macs and 7.54 million iPods.

By contrast, analysts had been modeling perhaps 16 to 18 million iPhone units, with some expecting even lower numbers than that. iPads were generally modeled at around 8 million units. The Street had been looking for 4.2 million Mac units and about 8 million iPods.

Apple ended the quarter with $76.2 billion in cash and equivalents, short- and long-term marketable securities.

For me, I always wonder how the Apple executives and Steve Jobs celebrate after such an incredible quarter. I’m sure Steve Jobs is still holding and stroking his cat, sipping some tea and listening to Philip Glass, but maybe he lets loose from time to time. Shots all around after sushi, maybe? What do you think? I’m guessing he might take a pin or two out of his Steve Ballmer doll, just to ease his pain.

Yeah, then there’s the other side, what do executives at Research in Motion, HP, Microsoft, Dell and other mobile phone and computer companies do when they see Apple blow out the numbers for the quarter. Don’t they want to give up? Or are they just calling for mercy?

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