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Apple (AAPL): Fourth Quarter 2010 (July-September)

Disclaimer: This post was written by me as a private person. This post is an experiment, the first part was Google reporting for the third quarter of 2010. I am not an expert in finance, comments will be extremely valuable!

Today took place the next webcast dedicated to the official reporting of Apple. In this case, it was the presentation of the company's financial results for the fourth quarter of the 2010 fiscal year (July-September). By its new fiscal year, Apple itself and analysts made a nice gift - these are record-breaking figures that have exceeded both the company's own forecasts and third-party estimates. Perhaps that is why Steve Jobs himself joined the broadcast, and his participation was extremely interesting, including open criticism from Google - details are below. A complete audio recording of the event, a press release with all the details and summary figures are available to everyone.

For the last quarter, revenue (revenue) was $ 20.3 billion , which is 67% higher than last year's figures. Net income (income profit) grew by 70% per year and amounted to $ 4.3 billion . Both numbers are a record for the company. Let me remind you that a year ago there was still a crisis, an increase of 30% compared to the previous quarter. This is the first quarter in the history of the company with a figure of more than $ 20 billion. You can compare these figures with the reports of Google last week. At the same time, gross margin decreased from 41.8% to 36.9%. There were a lot of questions about this, but representatives of the company said that this was not a surprise for them.

At the beginning of the webcast, there was an introductory Digits for individual products - 3.89 million Mac computers, 14.1 million iPhone phones, 9.05 million iPods and 4.19 million iPads. All numbers are also record, except for iPod - their sales even decreased a little over the year, by 6%. It is interesting to note that revenues from the iPad tablets have exceeded sales of personal computers (despite their record) - which, however, also reflects the company's market share. Among personal computers it is around 10%, the tablet market was created by the company itself.
As I noted above, the company's CEO becomes a rare guest of such events, but this time Jobs not only appeared, but in fact made a presentation - despite the audio format and the audience from financial analysts and investors. The main topics were iPhones and iPads and comparing them with competitors - especially with Google.

iPhone. For the first time, sales of devices exceeded rivals from RIM with the BlackBerry product - by 2 million. And Jobs does not believe that they will be able to reverse this trend. However, the market leader is Nokia. Steve joked that Apple is “not smart enough” to make $ 50 phones, but they will let you know if they learn. In this connection, today's material VisionMobile is interesting, in which Apple’s share (in units) among the phones in the first half of 2010 is calculated - it was 2%. Moreover, the share of all smartphones combined among all manufactured phones is less than 20% .

Comparison with Google took a long time and was so emotional that it was fully posted on YouTube !

First, Jobs began a conversation on the juxtaposition of an open Android and a closed Apple. Steve believes that Windows is truly open, which looks the same on computers from any manufacturer - unlike Google's operating system, where even the main suppliers of HTC and Motorola customize their own interface. Apple believes that it’s right to speak not about closeness and openness, but about integration and fragmentation.

Secondly, Steve refers to TweetDeck’s recent Twitter client experience, which has tested his application on over 100 different versions of Android. Apple instead provides only the current and previous versions of its OS.

Thirdly, it is the fragmentation of the app stores themselves, of which there are already a few under Android, including those planned from Amazon, Verizon and Vodafone. This creates mess not only for developers, but also for users.

It is interesting to note that on all three points, the new Microsoft rules for Windows Phone 7 are obtained according to the logic of Apple’s CEO.

Steve also recalled that a quarter earlier, Google had reported about daily activation of 200,000 Android-based phones. Apple reports its figures today - 275,000 activations per day on average for 30 days, and up to 300,000 on some days. Let me remind you that Google a week earlier did not disclose new data on its system.

iPad. As stated above, the profit from tablets for Apple already exceeds the profit from personal computers. Steve argues that the market will first significantly affect the laptop - the question is, “not if, but when.” And again, a lot of criticism of Google.

Apple sees how many manufacturers are developing 7-inch tablets based on the Android OS. Jobs notes that the iPad has a 10-inch diagonal, while 7-inch devices have only 45% of its area. The company refers to their experience and find it impossible to place elements on such a small screen so that they do not accidentally touch the elements. At the same time, the devices are too large in comparison with smartphones and too small for comfortable tablets.

As for the operating system itself, Jobs notes that even Google itself does not recommend to put Froyo (Android 2.2) on tablets and advises to wait until the beginning of next year.

And finally, prices - with all the shortcomings of competing devices according to Apple - their price is higher than the iPad.

As you can see, the conversation with investors in fact became the presentation of Apple against Google, directing most of the questions of analysts on this channel.

Of the other topics covered, the interesting question was about the possibility of changing Apple’s attitude to Flash. Jobs joked that “we love flash memory.”

On the question of whether the tablet business will be the second for the company after the phone, Steve noted that he likes not to predict, but to report on the results. But the company sees a great interest in their products, including among business users and in education.

The market on the eve of the announcement lowered the stock price a bit, but by the end of the day it had returned to the values ​​of the opening of trading. In general, over the year, the company's performance has increased significantly, which allows the market capitalization to be constantly in the neighborhood of $ 300 billion. This is how Apple got a new fiscal year 2011!

Source: https://habr.com/ru/post/106408/

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