The Unofficial Apple Weblog (TUAW) http://www.tuaw.com The Unofficial Apple Weblog (TUAW) http://www.tuaw.com/media/feedlogo.gif The Unofficial Apple Weblog (TUAW) http://www.tuaw.com en-us Copyright 2008 Blogsmith, LLC. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Apple's value is now quadruple Dell'shttp://www.tuaw.com/2008/05/02/apples-value-is-now-quadruple-dells/http://www.tuaw.com/2008/05/02/apples-value-is-now-quadruple-dells/http://www.tuaw.com/2008/05/02/apples-value-is-now-quadruple-dells/#commentsFiled under: ,

There's no love lost between Steve Jobs and Dell founder Michael Dell. Back in 1997, when Michael was CEO of Dell, he famously told a group of IT big wigs, ""What would I do [if I were in charge of Apple]? I'd shut it down and give the money back to the shareholders."

Oh, Michael. That's the kind of statement that waits in a corner for years, thinking, "I'm going to bite him in the backside ... hard."

The time has come. Earlier today, Apple rose $6.05 (3.48%) in NASDAQ trading, closing at $180.00. Compared to Dell's standing, Apple's market value of $158.66 billion is now four times Dell's $38.97 billion.

Only a year ago, we were excited that Apple had doubled Dell's value. Here's to the next twelve months.
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]]>appledellmarket valueMarketValuemicheal dellMichealDellsteve jobsSteveJobsDave Caolo2008-05-02T10:00:00+00:00Apple Q2 results liveblog, 5 pm EThttp://www.tuaw.com/2008/04/23/apple-q2-results-liveblog-5-pm-et/http://www.tuaw.com/2008/04/23/apple-q2-results-liveblog-5-pm-et/http://www.tuaw.com/2008/04/23/apple-q2-results-liveblog-5-pm-et/#commentsFiled under: ,

We're going to be covering the Apple earnings call live at 5pm ET / 2 pm PT, now that the earnings report is out ($1.16 per share, hot hot hot!). To listen in on the call, you can pick up the QuickTime stream here. Remember, for ongoing coverage of AAPL be sure to check out our sister site BloggingStocks.

Continue reading Apple Q2 results liveblog, 5 pm ET

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]]>aaplearningsfinancialsliveblogresultstweet-thiswall streetWallStreetMichael Rose2008-04-23T16:45:00+00:00Apple makes a nice jump on the Fortune 500http://www.tuaw.com/2008/04/21/apple-makes-a-nice-jump-on-the-fortune-500/http://www.tuaw.com/2008/04/21/apple-makes-a-nice-jump-on-the-fortune-500/http://www.tuaw.com/2008/04/21/apple-makes-a-nice-jump-on-the-fortune-500/#commentsFiled under: ,

Apple's headed straight to the top with a bullet -- they went from 159 to 121 in last year's Fortune 500 ranking, and this year, they've pushed their way up to 103. On the list of the "20 most profitable tech companies," they are solidly at number eight -- Fortune says that the introduction of the iPhone and "record sales of Mac computers" have Apple on a rocket trajectory.

Of course, Google's sitting upstairs at number 7, and you-know-who (not the Harry Potter villain, but close) is up at number one.

But yes, there's no question that Apple has really been hitting it out of the park lately, and considering the future (the fruits of the SDK, another possible iPhone iteration, and whatever else they're brewing up in Cupertino), the trends will continue.
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]]>applecomputersfortune-500googleiphonelistingmicrosofttech-companiesvoldemortMike Schramm2008-04-21T17:30:00+00:00Apple Q2 earnings call previewhttp://www.tuaw.com/2008/04/21/apple-q2-earnings-call-preview/http://www.tuaw.com/2008/04/21/apple-q2-earnings-call-preview/http://www.tuaw.com/2008/04/21/apple-q2-earnings-call-preview/#commentsFiled under:


Over at Apple 2.0, Phillip Elmer-DeWitt has an excellent preview post on Apple's earnings report, scheduled for Wednesday afternoon at the market close. We'll be liveblogging the earnings call at 2 pm PT/5pm ET if you care to join in for the fun.

Despite spectactular sales and earnings growth for AAPL over the past couple of years, the Q1 earnings report (which featured extra-conservative guidance by Apple and some indications of a softening on iPod demand) triggered a selloff in the stock, with a drop in price from the lofty $200 highs at the end of 2007 (seen above) as profit-taking and recession fears drove investors to take their money and run. Will iPhone sales and Mac unit growth push profits (and the stock price) back towards the roof? Tune in Wednesday to find out.
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]]>aaplfinancialsliveblogquarterly resultsQuarterlyResultsMichael Rose2008-04-21T12:15:00+00:00JPMorgan: MacBook Sales Up, PC Sales Downhttp://www.tuaw.com/2008/04/11/jpmorgan-macbook-sales-up-pc-sales-down/http://www.tuaw.com/2008/04/11/jpmorgan-macbook-sales-up-pc-sales-down/http://www.tuaw.com/2008/04/11/jpmorgan-macbook-sales-up-pc-sales-down/#commentsFiled under: , ,

According to a recent posting on Phillip Elmer-DeWitt's Apple 2.0 column over at CNN, JPMorgan analyst Mark Moskowitz has issued a "cautiously optimistic" report on Apple based primarily on "stronger-than-expected" MacBook sales" for the quarter ending in March. According to Moskowitz, computer sales usually fall-off after Christmas, but Apple has actually had a sales increase -- albeit a small one at only 0.2%.

However, that increase is still better than sales for other PC's, which according to the report, fell 9% in the same quarter. In spite of the sales increase, there still may be other issues that have an effect on Apple's bottom line this year. According to Moskowicz, there may be some difficulty for Apple if the company is not able to deliver a 3G iPhone by Summer.

"As long as there is nothing to suggest that a summer launch of the 3G phone is not a possibility, we would expect investors to look past any near-term disappointment in iPhones," said Moskowitz in his report. The report doesn't specify which MacBook model is responsible for the slight increase in sales for Apple. But with the MacBook Air having just been released during the last quarter, perhaps it deserves the credit?

Apple will release its quarterly earnings report on April 23rd.
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]]>financialmacbookmacbook airMacbookAirsalesChris Ullrich2008-04-11T16:30:00+00:00iFund: $100M for iPhone/iPod touch devshttp://www.tuaw.com/2008/03/06/ifund-100m-for-iphone-ipod-touch-devs/http://www.tuaw.com/2008/03/06/ifund-100m-for-iphone-ipod-touch-devs/http://www.tuaw.com/2008/03/06/ifund-100m-for-iphone-ipod-touch-devs/#commentsFiled under: ,

One of the most surprising announcements from today's Apple shindig (at least to me) was the iFund from Kleiner Perkins Caufield & Byers. This $100 million fund will invest in companies, large or small, that want to develop innovative apps for both the iPhone and the iPod touch.

The iFund will invest anywhere from $100,000 to $15 million in funds for iPhone development. Check out the FAQ for more details.
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]]>applefree-moneyiFundmoneyvcScott McNulty2008-03-06T15:23:00+00:00iPhone or Macbook Air: Which will save you the $$s?http://www.tuaw.com/2008/03/05/iphone-or-macbook-air-which-will-save-you-the-s/http://www.tuaw.com/2008/03/05/iphone-or-macbook-air-which-will-save-you-the-s/http://www.tuaw.com/2008/03/05/iphone-or-macbook-air-which-will-save-you-the-s/#commentsFiled under: , , , ,

Scott and I were chatting yesterday about recent iPhone sales. Rumors from yesterday's Apple Shareholder Meeting suggest that the iPhone is on-target to reach its 10 million unit goal. "Of course it's selling well," Scott said. "The iPhone costs a lot less than a new Mac. Doesn't it?"

Leaving aside such silliness as $40K Swarovski-encrusted laptops, the real cost of an iPhone over a two-year contract remains high. On top of the $399 for the base unit itself, the lowest-advertised AT&T 2-year contract costs $1440 plus about 10-12% in surcharges, for a total of about $2000. The 13-inch 1.6 GHz MacBook Air? $1800.

You can save yourself some money on the iPhone side by opting for the contract-free prepaid account for only $49.99/month or even (heaven forfend!) unlocking your iPhone and using it with an existing non-AT&T account. If you really want to shop on the cheap, AT&T is selling refurbished 4GB iPhones for just under $200, and 8GB for $249.

All things considered though, if you're looking at an AT&T contract, there's not too big a difference between putting the Internet into your pants and putting it into an office envelope.

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]]>Cost ComparisonsCostComparisonsErica Sadun2008-03-05T13:00:00+00:00Apple COO speaks about iPhone, SDKhttp://www.tuaw.com/2008/02/28/apple-coo-speaks-about-iphone-sdk/http://www.tuaw.com/2008/02/28/apple-coo-speaks-about-iphone-sdk/http://www.tuaw.com/2008/02/28/apple-coo-speaks-about-iphone-sdk/#commentsFiled under: , ,

World of Apple is reporting on a recent 45-minute Q&A session with Tim Cook, Apple's COO, at the Goldman Sachs Investment Symposium. In regards to iPhone unlocking (or allowing users to move to another cell network with their iPhone), Cook said that it is "difficult" to please all users on all networks, primarily because the US uses both GSM and CDMA protocols. He did say that the iPhone model may change over time, but that the current AT&T deal provides the best coverage and simplest experience for the user.

"We're not married to any business model," Cook stated. "What we're married to is shipping the best phones in the world."

Cook also said that the upcoming iPhone SDK will allow developers to "only be limited by [their] imagination." He declined to give further details because Apple wants to keep "the element of surprise." Cook also talked about the AppleTV, iPhone price cuts, and iPod shuffle price cuts.

The session was recorded and is available for your listening pleasure on Apple's site.
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]]>AppleAppleTViPhoneiPod shuffleIpodShuffleSDKTim CookTimCookCory Bohon2008-02-28T22:30:00+00:00Apple's $18 billion stashhttp://www.tuaw.com/2008/02/25/apples-18-billion-stash/http://www.tuaw.com/2008/02/25/apples-18-billion-stash/http://www.tuaw.com/2008/02/25/apples-18-billion-stash/#commentsFiled under: , , , ,

Where's all that cash that Apple made from the iPhone and all those iPods, Macs, and iTunes downloads last year going? Why, right into Apple's mattress. According to the Financial Times, Apple currently has $18 billion sitting on their balance sheet, doing nothing much at all. And they're OK with that -- Apple CFO Peter Oppenheimer recently said in the Q1 conference call that they like having that "flexibility." And after all, you never know when you might need to drop $18 billion on something important.

All that money doing nothing isn't so great for Apple's investors though, some of whom apparently want a piece of the pie. They might like to see dividends, stock buybacks, or even actual spending come out of that on Apple's part (later in the piece, I'm surprised to see that Apple only spends 3% of their sales on R&D, while Microsoft spends 14%). But no -- Apple is flush with cash from all their big sales numbers, and they want to apparently stay that way.

[Via Ars]
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]]>applebillionbusinesscashearningsfinancialmoneyquartersalesMike Schramm2008-02-25T19:00:00+00:00Apple taking it easy on flash memory order this yearhttp://www.tuaw.com/2008/02/21/apple-taking-it-easy-on-flash-memory-order-this-year/http://www.tuaw.com/2008/02/21/apple-taking-it-easy-on-flash-memory-order-this-year/http://www.tuaw.com/2008/02/21/apple-taking-it-easy-on-flash-memory-order-this-year/#commentsFiled under: , , ,

CNET is reporting that iSuppli announced Apple is "cutting" their flash memory order this year, and in this case "cutting" doesn't mean "cutting" the way you or I would use it (as in, "The doctor said I had to cut my sugar intake, so I'll only have one doughnut instead of six."). No, it means "cutting" as in they're only raising their orders for flash memory by 16% instead of the expected 32% (which is like saying "I'll only eat three more doughnuts instead of six").

Still, it's enough to send a few folks into a tizzy -- as CNET's Tom Krazit says so perfectly: "If Apple coughs, the flash memory market gets sick." I don't know that there's too much to read into this, except maybe that we probably won't see a brand new iPod this year. With the iPod touch and all the iPod iterations out right now, Apple pretty much has the market covered on mp3 players. That doesn't mean they won't drop lots of new products (I hear that they used to make computers of some kind), but it probably does mean that in terms of the current iPod brand, growth has peaked. Until they bring out that gaming device, flash memory isn't their biggest need.
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]]>familyflash-memorygrowthipodisuppliordersMike Schramm2008-02-21T14:00:00+00:00NYT on gray market iPhoneshttp://www.tuaw.com/2008/02/19/nyt-on-gray-market-iphones/http://www.tuaw.com/2008/02/19/nyt-on-gray-market-iphones/http://www.tuaw.com/2008/02/19/nyt-on-gray-market-iphones/#commentsFiled under: , , , ,

The Gray Lady has published a piece examining the so-called "gray market" for iPhones in China -- legitimate products transferred through not-so-legitimate channels. Though we of course have no idea how prevalent this was before the rise of the 'Net, I have to think that the shrinking global neighborhood contributes to this a lot -- it's much easier to ask someone in another country to buy something for you when you talk to them every day on Twitter.

The NYT puts the number of non-AT&T iPhones at a whopping 1.4 million, but of course that includes unlocked phones all over the world, and people who are using iPhones without actually activating them. So we're not exactly sure of the number of iPhones floating around China (where Apple hasn't made a deal to provide official service yet). Analyst Charles Wolf says that Apple definitely enjoys listing the gray market iPhones in their sales numbers, but that the lack of an AT&T agreement with the phone sales undermines their contract plan.

However, he admits also that making the decision to sell the phones unlocked would have earned Apple more demand in the first place, so it's six in one, half-dozen in the other. There's no word on how the impending release of the SDK might affect the sale of phones for unlocking, either. But for now, it's clear that the gray market is a substantial and yet very much unknown quantity of Apple's iPhone business.
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]]>analystcharles-wolfchinachinesegray-ladygray-marketiphoneiphonesnew-york-timessmugglersMike Schramm2008-02-19T10:00:00+00:00Jobs reassures Apple investorshttp://www.tuaw.com/2008/01/28/jobs-reassures-apple-investors/http://www.tuaw.com/2008/01/28/jobs-reassures-apple-investors/http://www.tuaw.com/2008/01/28/jobs-reassures-apple-investors/#commentsFiled under: , ,

With Apple's stock plummeting from just shy of $200 to $130.01, as of closing today; AppleInsider is claiming to have gotten a copy of Steve Jobs' letter to investors that he issued last week. In the letter, Jobs urged investors to "Hang in there."

"Wow... what a remarkable last few days," Jobs said. "Our stock is being buffeted around by factors a lot larger than ourselves."

Jobs went on to say that he believed in Apple's fundamentals. He highlighted Apple stores, Apple's focused strategy, and forthcoming products as reasons why people should worry too much about Apple's stock. Apple does have $18 billion in the vault, as it were, so the company can certainly weather some rough quarters.

Jobs is currently the second largest Apple shareholder, behind only Fidelity Investments, with a reported 5.54 million shares. He has, no doubt, been hit hard by the recent happenings on Wall Street; but then again, who hasn't been?
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]]>AppleinvestmentsinvestorsletterSteve JobsCory Bohon2008-01-28T21:00:00+00:00Apple posts 2008 Proxy Materialshttp://www.tuaw.com/2008/01/23/apple-posts-2008-proxy-materials/http://www.tuaw.com/2008/01/23/apple-posts-2008-proxy-materials/http://www.tuaw.com/2008/01/23/apple-posts-2008-proxy-materials/#commentsFiled under: ,

Listen up, finance nerds, Apple has just posted their 2008 Proxy Materials. Are you excited? I'm not... but that might be because I have no idea what proxy materials are (I'm just a simple blogger). Apple notes that they are posting the proxy materials in an electronic format to help save a few trees , as these statements were previously printed out.

If you didn't get enough Apple financials from our liveblog of Apple's quarterly results call, this proxy materials might be just what you're looking for.
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]]>proxy-materialsScott McNulty2008-01-23T22:00:00+00:00Wall Street to AAPL: Get benthttp://www.tuaw.com/2008/01/23/wall-street-to-aapl-get-bent/http://www.tuaw.com/2008/01/23/wall-street-to-aapl-get-bent/http://www.tuaw.com/2008/01/23/wall-street-to-aapl-get-bent/#commentsFiled under:

OK, I get it. Equity investments are bets on the future, not rewards for the past, and a stock like Apple's with such stratospheric growth over the past 12 months is vulnerable to gloomy outlooks in a way that more plodding investments might not be. Still and all: another record quarter. Best sales, best revenue in Apple's history. More than 2.3 million Macs sold, and nearly as many iPhones (!). Over twenty-two million freakin' iPods. Year over year, the December quarter gained almost 2.5 billion dollars in revenue -- my goodness, it was a 9.6B quarter, which would have been a spectacular entire year for the Apple of recent memory. Apple beat the internal guidance by $0.34 a share... there's no way to describe this financial performance except "stunningly good" -- unless you're Doug Krizner of Marketplace Morning Report, who characterized the results today as "less than stellar." Man, I am so happy they made that guy stop signing off with "Make it a good day," because the way he said it made me want to get back in bed and hide my money under a mattress.

But I digress. With these results in mind, why would after-hours traders respond with the fiscal equivalent of "Go crawl in a hole and die, you hippie freaks?" Granted, Apple's CFO is anticipating earnings per share for next quarter around a dollar, which is less than analysts were hoping for and may point to some drag on the business from deteriorating economic conditions. It still seems to me that with iPhone revenue growing (remember, it takes two years to extract all the profit from those iPhone sales, so there's an upslope out there as the sales and new markets accumulate) and new streams coming in from iTunes rentals and the so-hot-it's-untouchable retail operation, we've gone from irrational exuberance to a gang initiation beatdown.

Oh well. If I wanted peace and quiet I probably should have bought Dell stock.

Disclaimer: I hold shares in AAPL. Bought them at a split-adjusted $13. Not selling, either.
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]]>aaplearningsstockMichael Rose2008-01-23T10:00:00+00:00Apple posts first quarter 2008 resultshttp://www.tuaw.com/2008/01/22/apple-posts-first-quarter-2008-results/http://www.tuaw.com/2008/01/22/apple-posts-first-quarter-2008-results/http://www.tuaw.com/2008/01/22/apple-posts-first-quarter-2008-results/#commentsFiled under: ,

We are in the process of liveblogging Apple's financial conference call, but Apple has already posted their quarterly results for all to read. Here's what Apple sold this quarter:
  • 2,319,000 Macs (44% more than last quarter)
  • 22,121,000 iPods (5% more than last quarter)
  • 2,315,000 iPhones
Revenues clocked in at $9.6 billion and a net profit of $1.58 billion.

Best. Quarter. Ever.
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]]>financialsstocksScott McNulty2008-01-22T17:13:00+00:00Apple Q1 2008 results livebloghttp://www.tuaw.com/2008/01/22/apple-q1-2008-results-liveblog/http://www.tuaw.com/2008/01/22/apple-q1-2008-results-liveblog/http://www.tuaw.com/2008/01/22/apple-q1-2008-results-liveblog/#commentsFiled under: , , ,

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]]>apple financialsAppleFinancialsearning-reportearningsChristina Warren2008-01-22T16:45:00+00:00TUAW liveblogs the Q1 2008 earnings call at 5PM EThttp://www.tuaw.com/2008/01/22/tuaw-liveblogs-the-q1-2008-earnings-call-at-5pm-et/http://www.tuaw.com/2008/01/22/tuaw-liveblogs-the-q1-2008-earnings-call-at-5pm-et/http://www.tuaw.com/2008/01/22/tuaw-liveblogs-the-q1-2008-earnings-call-at-5pm-et/#commentsFiled under: , ,

Apple will be reporting its 2008 Q1 financial results today at 5 PM EST. After yesterday's worldwide market plunge (U.S. exchanges were closed for Martin Luther King, Jr. Day), Apple shares dropped as much as 8% as the markets opened this morning. Though the stock has largely rebounded (thanks to the Federal Reserve's surprise emergency cuts in lending rates), this will certainly make for an interesting backdrop for today's earnings call.

We'll be live-blogging the call (it is streaming live via QuickTime here) and trying out the CoverItLive service to see how it performs.

Join us back here at 5 PM EST for all the action.
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]]>apple financialAppleFinancialearningsq12008Christina Warren2008-01-22T14:30:00+00:00AAPL, Blockbuster and Netflix down following Macworld Keynotehttp://www.tuaw.com/2008/01/15/aapl-blockbuster-and-netflix-down-following-macworld-keynote/http://www.tuaw.com/2008/01/15/aapl-blockbuster-and-netflix-down-following-macworld-keynote/http://www.tuaw.com/2008/01/15/aapl-blockbuster-and-netflix-down-following-macworld-keynote/#commentsFiled under: , , , ,


Blockbuster and Netflix's stocks both took big hits based on what we just heard Steve say at Macworld. Blockbuster has dropped a handy 15%, and Netflix "tumbled 6 percent" already this afternoon (although it's jumped back a bit since then), according to CNN Money. Apparently investors are convinced that movie renters would rather fire up iTunes than run out to the video store or wait for a movie to come in on their Netflix queue.

Apple, however, isn't doing that well either after today's announcement. On the day, they've dropped almost $11 as of this writing. But while this Keynote may not quite have met expectations (lots of people were expecting Cinema upgrades, or something a little less traditional than the MacBook Air), this very likely isn't an actual downturn in the ol' Apple hype -- anyone can see that iTunes movie rentals will very likely make them a lot of money. Rather, it's probably* the result of Keynote investors selling off the stock they picked up before the event. In short, it'll take a lot more than an afternoon to see what effect today's announcements really have on stock prices.

*All of this commentary and analysis is given by someone who has little to no experience in stock trading, and should not be taken seriously by anyone.
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]]>appleblockbusteritunesmoviesnetflixrentalsstocksMike Schramm2008-01-15T16:00:00+00:00Apple stock help drive mutual fund returnshttp://www.tuaw.com/2008/01/14/apple-stock-help-drive-mutual-fund-returns/http://www.tuaw.com/2008/01/14/apple-stock-help-drive-mutual-fund-returns/http://www.tuaw.com/2008/01/14/apple-stock-help-drive-mutual-fund-returns/#commentsFiled under: , ,

I'm not Wall Street wunderkind but it doesn't take Warren Buffet to know that Apple's stock has been performing well. It would seem that, at least according to the New York Times, Apple's performance coupled with Google and RIM has lead to many mutual funds seeing extraordinary growth this year. Many funds are glad they didn't sell all their Apple stock when it seems that it just couldn't go any higher (how high can it go? I have no idea, but since I don't own any Apple stock it really matters little to me).
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]]>APPLnytstockwall-streetScott McNulty2008-01-14T10:00:00+00:00Apple stock price dips in January rollercoasterhttp://www.tuaw.com/2008/01/04/apple-stock-price-dips-in-january-rollercoaster/http://www.tuaw.com/2008/01/04/apple-stock-price-dips-in-january-rollercoaster/http://www.tuaw.com/2008/01/04/apple-stock-price-dips-in-january-rollercoaster/#commentsFiled under: , , , , ,

In our last-of-2007 podcast, our resident AAPL-watcher Mike Rose pointed out Apple's exceptional fiscal performance as one of the most important stories of the year. Quite rightly so: Apple had, by all accounts, a phenomenal year. There's even predictions from analysts of AAPL reaching the frankly dizzying heights of $300 - $600 in the next 18 months - we'll see how those fare, folks.

With the financial analysts talking about Apple stock's seemingly rosy future, it's perhaps surprising news that AAPL has lost 7.5% (dropping nearly $15) just today. That's about $12 billion knocked off Apple's market cap. With Macworld around the corner, Apple stock is the subject of much speculation already - both for us covering the 'Keynote Index Fund' here at TUAW and over at Wired (to mention but a few). Undoubtedly, there's folks looking to partake in a little daytrading or trading over the duration of the entire Macworld week. With that in mind, might the Feds and SEC be more than interested in the interaction between the keynote (including its audience, one might fathom) and the effect it has on Wall Street?

For ongoing coverage of AAPL, check out our colleagues' posts at Blogging Stocks:AAPL.

Disclaimer: The points mentioned above come from a personal, and strictly non-professional, opinion, and should not be considered investment advice. For advice on stocks and investments, always seek advice from a regulated financial advice professional.

Update: We ought to add that the market did indeed drop as a whole. However, the drop in Apple's stock was disproportionate to the down day.
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]]>aaplapple-financialsapple-stocktweet-thisNik Fletcher2008-01-04T20:30:00+00:00