Apple Defers Reporting iPhone Sales till Next Quarter
8:48 pm, July 20th, 2008, Lonnie Lazar
Apple, Inc. is expected to report strong second quarter earnings after US markets close on Monday and the company will do so without recognizing a single iPhone sale, according to a Bloomberg report. Instead of including sales of first generation iPhones that came at the end of the second quarter before the release of the wildly successful iPhone 3G, the company will report an increase in earnings on rising sales of Macintosh computers and iPod media players alone.
“The Mac is the primary reason we own Apple shares,” said Michael Obuchowski, a portfolio manager at New York-based Altanes Investments LLC, which began buying Apple shares in 2006. “For several quarters, we’ve seen an incredible acceleration in Apple’s PC business.”
There could be even more good news ahead for Apple shareholders, who will undoubtedly receive another boost next quarter, when Apple tells the story of its hugely successful iPhone 3G release, which has nearly completely sold out in the United States, Germany and other worldwide locations in its first 10 days on the market.
Posted by Lonnie Lazar in Apple, News, iPhone 3G | Comment on this article
“Buy the rumor sell the fact” as the saying goes. These APPL selloffs are short-lived.
Bubbles, on July 21st, 2008 at 11:37 pm