Last quarter was bright but the future’s even brighter, according to Apple.
Even Apple execs sounded pleasantly surprised as they revealed last quarter’s mostly higher-than-expected numbers Tuesday. But in what’s become something of a refrain in Cupertino, they couldn’t stop themselves from vague and knowing references to the incredible products waiting in the magical Apple pipeline.
Trust us, they seemed to say: Last quarter’s net profit of $7.7 billion — fueled by robust sales of iPhones, MacBooks and a surprisingly strong showing in the iTunes Software and Services category — was totally great, but wait till you see what we’ve got up our sleeves.
“We’re expecting a very busy fall,” said Luca Maestri, Apple’s chief financial officer. “We’re very excited about what’s in the pipeline.”
What else did Apple executives have to say during Tuesday’s Q3 earnings call? Here’s our take on everything you need to know from the latest numbers talk.
If you’re looking for a way to get rich overnight, here’s an idea: somehow borrow $1 billion without anyone knowing what you’re doing, invest it all in Apple shares the night before an earnings call (when the stock price is all but guaranteed to rise), immediately sell the next morning, return the original capital, and then pocket the profit without anyone the wiser.
Sound too straightforward to be true? That’s because it is — although that didn’t stop 40 year old trader David Miller from trying the stunt back in 2012.
Apple is set to announce its quarterly earnings today and host a conference call at 2:00 PM Pacific, so naturally, analysts have been making last minute predictions about what they think today’s results may bring.
To make sense of all these predictions, Phillip Elmer-Dewitt has compiled a list of predications from 68 analysts over at CNNMoney. The results? Divided expectations.