The most interesting things from Apple's Q1 earnings call
Perhaps, like me, you find most financial news and statistics boring. Perhaps, like me, when the AAPL liveblog came up yesterday, you decided it was probably time to go get some lunch instead. Fortunately, we have access to Business Insider, where they've compiled a quick and easy list of truly interesting items from the call yesterday, in plain English, with nary a mention of terms like "general allocation accounting" or "high-interest stock targets" (yawn).
The long and short of it: There was no mention of Steve Jobs' illness, but Tim Cook and Peter Oppenheimer impressed, as did the company's standing in general (not surprising -- that's been the case for a while now). Apple's revenue grew 70% year over year, an astounding feat in an otherwise down economy. iTunes is now a $4 billion dollar industry in itself, and in just the first year of its life, the iPad has replaced 7% of all PC business. That's incredible, as are most of the other things on BI's list.
Oh, and that $40 billion in cash that Apple's had to throw around for the past few years? Make that $60 billion. Yowza! Now that's worth paying attention.
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