Seeking Alpha
About this author:

Seeking Alpha authors Andy Zaky and Turley Muller estimate that 9 months into 2008, Apple has already surpassed Steve Jobs’ widely quoted (and oft-ridiculed) projection of selling 10 million iPhones this year. In particular, they calculate that Apple sold 7-7.5 million units in Q3, the final quarter of the Apple fiscal year, building on the strong sales spurt with July’s release of the iPhone 3G.

They use a clever strategy of tracking serial numbers (IMEI) as a way to estimate how many phones have been built, and use convergent numbers from web browser stats.

Apple’s FYQ4 earnings release is due a week from Tuesday. If Zaky and Muller are right, Jobs will proudly proclaim that Apple has blown past the 10 million figure in hopes of supporting the stock.

So far the stock is in freefall, off even more than Google due to worries about consumer spending. Next week’s rumored announcement of a sub-$1K laptop won’t turn that around, but perhaps unexpectedly strong iPhone earnings could provide support for the stock.

More importantly, if Apple is lucky the announcement will correspond to a shift in the overall macroeconomy. In a rare example of local TV actually interviewing someone who knows something about the economy, our local NBC station tonight ran an interview with a really smart Chicago school economist who also happens to be a former Congressman and business school dean. Tom Campbell says the economy will keep falling until the Feds start spending the bailout money, hopefully in a few weeks.

Disclosure: No position AAPL.

Print this article with comments

This article has 19 comments:

  •  
    Apple is probably among the best buys in the market today because of Steve Jobs. The company has a great long term future. While many people have lost their retirement nest egg in their 401k plans, it does not have to be that way. Seniors and baby boomers deserve their Golden Retirement years, and not at McDonalds under the Golden Arches. It is so sad to seee many seniors, working there today, to supplement their social security checks. it is a stock that will not let you down for the long term. Up $4 today in a down market.
    2008 Oct 10 02:51 PM | Link | Reply
  •  
    Yawn.
    2008 Oct 10 02:51 PM | Link | Reply
  •  
    Apple has been a rebel to the market lately. I am hoping that this is not just a short pop, but perhaps a signal that the bottom is here. I really thought we would finally rally today on the overall market, oil prices falling is VERY GOOD FOR THE CONSUMER! The days not over, hopefully no late freefall, but a late rally. If we freefall today, I am jumping in as a buyer.
    2008 Oct 10 03:13 PM | Link | Reply
  •  
    Ha, as a wrote that the Dow gained 250 points, still 42 togo though!
    2008 Oct 10 03:18 PM | Link | Reply
  •  
    "If Zaky and Muller are right, Jobs will proudly proclaim that Apple has blown past the 10 million figure in hopes of supporting the stock."

    er no. Steve doesn't attend the Earnings reports
    2008 Oct 10 03:33 PM | Link | Reply
  •  
    Bought Apple at $90.06.. I think it will end up being a good buy. I also shorted Amazon as a hedge and because Amazon has further multiple contraction to go in my opinion.

    Check out my other moves at 20smoney.com
    2008 Oct 10 04:13 PM | Link | Reply
  •  
    FYI ... both AAPL and GOOG are off 51% YTD, and AAPL showed solid upside today when the market was barfing. i think if you do your homework you'll realize that AAPL is significantly undervalued at current levels and the forthcoming laptops & earnings will push the shares up at least 25% over the next month.
    2008 Oct 10 04:59 PM | Link | Reply
  •  
    well SJ have a 87$ line stock option, otherwise he will earn just a dollar per year.
    2008 Oct 10 05:02 PM | Link | Reply
  •  
    @ haveittodayray;

    Only those that have sold, have actually lost anything. Now is not a time to liquidate to cash. This time next year, those accounts will be substantially recovered.

    We are in a buyers market with yard sale prices.
    2008 Oct 11 10:16 AM | Link | Reply
  •  
    @dig; You are completely correct. Conditions are ripe for Apple to be the Perfect Storm. Get ready to ride the tsunami!
    2008 Oct 11 10:19 AM | Link | Reply
  •  
    Apple is the new IBM:

    Steve Jobs declared, that he would invest and spend on R & D if the economy became recessionary. He has made good on his promise. New acquisitions, new factories, new technologies, recruiting and hiring the smartest people.

    What is different, however, that their product line has been immune to this recession; their products continue to inspire record sales.

    An economic downturn is one of the best opportunities for companies, small and large, to invest in expansion. Costs are low, competitors are pulling back. Once the economy comes back around, the one that ignored the "news" and "fear", and kept moving forward always ends up way in the lead.

    WE are the economy, not the stock market; invest in ourselves, our families, and our own businesses, that's something we all have control over.

    Apple is the new IBM & the new Sony all rolled into one.

    Long IBM & Apple is a very smart move; adding to your position at these sale prices is even smarter. This is a chance of a lifetime that does not often come around.

    2008 Oct 11 10:21 AM | Link | Reply
  •  
    i agree with the windinthedus... and my family bought 2 iphones just last weekend and the apple store was jammed and people were buying..there was no recession in THERE.

    but i think there's a part of the growth that is still not cited much and that is for businesses trying to pare down their IT departments, which are very expensive.

    it's becoming obvious that if you have computers that are easier to use, require less tech support, and have great FREE tech support available, esp. in cities with Apple stores, (though online is good too), why would you stay with computers that are so troublesome and need a lot of coddling...to say nothing of the downtime in production by workers whose computers are frozen or virus laden? they won't. they'll eventually move to Macs.

    It won't make any difference if microsoft advertises about Vista every 5 minutes. We all know it sucks. It's just a matter of time for Apple, which is a great stock buy at these prices...whew! if you have some cash, now's the time!!
    2008 Oct 11 10:34 AM | Link | Reply
  •  
    Don't get too slap-happy -- AAPL may go to $60. APPL is being hyped-up by its lovers simply because APPL went up on Friday. If you look at how low it has plunged in the last weeks, it is not a sure thing at all. I have researched this thoroughly, and where this stock is going is questionable at this point. Don't be surprised to see some further drops to the low 80's.
    2008 Oct 12 02:14 AM | Link | Reply
  •  
    Keep in mind that if you bought APPL a couple of years ago, you'd find it's still up above what you paid because it has made so much progress. If you bought MSFT 5 years ago, well, you would have seen almost no gains, and even though it's down less than APPL this month, it has been a decade since it's made any substantial, long term gains. Look at the charts.
    2008 Oct 13 01:19 AM | Link | Reply
  •  
    Ahh, but he did this time...
    2008 Oct 22 03:22 PM | Link | Reply
  •  
    Sorry, wrong blog format...

    That was to rattyuk:
    "er no. Steve doesn't attend the Earnings reports"

    Ahh, but he did this time...
    2008 Oct 22 03:24 PM | Link | Reply
  •  
    CIALIS -THE KNOWN GENERIC DRUG FOR IMPOTENCE

    Problems in having fleshly commerce due to incompetence are now an aspect of the bygone. Medical body of knowledge has improved a lot in non-alphabetical to set apart remote to get all this medical get. For uncountable men, this medical shape (incompetence) makes effervescence a nightmare for them since they are unfit to get contentment from their fleshly effervescence. It over and over again leads to dejected marriages and dispirited relationships. For such men, now there is hope. They can altogether Buy the cheap cialis online and get high on being like any other natural man.

    Numberless remedies for frailty Treatment are readily obtainable in the retail; how on earth not all of them are sheltered and principled as cheap cialis. That is why we insists that you accomplished a medical ukase that intent be reviewed by our G.M.C. approved doctor once you on be prescribed Cialis.

    Reclusion is entirely critical. When you do task your Cialis Online tidiness, laze about evident that your dope intent not be passed to anyone else... Cialis is a most well-liked remedy that helps ruckus incompetence. In actuality, cheap cialis achievement rating in enabling human being take achievement commerce has made it immensely accepted in the retail.

    Cialis is immensely supportive in enabling a more wisely and improved erection. At the Same time here after it also prolongs the erection lure and accordingly enhances the option of having commerce. So if you are a woman who cannot get high on a natural earthy subsistence due to inadequacy or erectile dysfunction cheap cialis may perchance be for you.
    Author: Franklin onlinepharmacy.vg/cata...

    2008 Dec 03 11:56 PM | Link | Reply
  •  
    Why Men Are tangled to Purchase Cialis?

    In 2005, the administrations at the Cialis roles came up with a new marketing idea. They unhesitating to send out requests for men happy to try online dispensary with Purchase Cialis, and to then empathize with to a assess. They wanted to reach men who energy not already from Purchase Cialis. They unhesitating to send the existence of ss to varied in divers of the less-developed countries. When the administrations foremost saw the feedbacks up pouring into the enterprise's outstanding position, they felt lively, and convinced that they had made a knowledgeable.
    .
    Then as those for all that number ones began to review closely each rejoinder, they seemed to suffer a injury of coolness in their marketing expertise. From Russia the number ones in the Purchase Cialis positions got more than one embodiment of a the worse for wear-looking boatman. His whisker hung relaxed and protracted at the sides of his head.
    He had a protracted mustache on a braid’s face.

    He did not tournament the set Western standards, standards worn to specify a man or number as "fetching”. The administrations in the Cialis' roles were conforming. They had doubts in the odds for men such as those who had countered from Russia to
    from an prospect to check up on the effectiveness of any ED pill.

    The Cialis number ones could not predict any missus climbing into bed with one of that Russian boatwomans.Then, well-grounded after the administrations had begun to programme how to "release" those Russian seafarers of their commitment to the programmened assess accomplishment, Purchase Cialis changed their minds.
    A tiro of one official was attending a collaboration college. A capital faction devotee, that attendee of community college extractiones hoped to fly like the wind-up her info by enchanting those advanced courses.

    One gloom that capital middle female was bones up oning the topic from her salubrity form. It was a register written by Dianne Hales. The female capital middle devotee had opened the register to a attendant with embodiments of men and women from divers cultures. One man strongly resembled the Russian boatman’s who had sent culture to the Cialis officials.

    According to the info provided by Ms. Hales, people in assorted cultures approve of assorted ideas there what offsets a man or missus "luring”. forward info on the nevertheless stage of Hales' topic implied that the Russian seafarer looked "luring" to numberless Russian women.

    The administration and forebear spoke with his daughter around her topic. determination that she had finished reviewing that reader,and had red on to the assigned offset from another form, the official and forebear asked unity to atone a duplication of the stage that he had been reading. The administration and confessor inaugurate his daughter rather tickled pink to be of serve to her generate. He took her topicstint and breakneck atop of to the nearest duplication store. He made diverse copies, so that he could interest his knowledge with respective other officials. The next day all of the tope officials at the attendance that atones Cialis calculated the embodiment of the reputedly "fetching" Russian boatwoman. Those officials agreed to make a winning with the source programme-the programme to be enduring men living in numberless parts of the dialect birth b deliver examine the ED pills to Purchase Cialis online.

    Author: Garret Kurte www.onlinepharmacy.vg/...

    2008 Dec 07 04:38 AM | Link | Reply
  •  
    Agree!! What is different, however, that their product line has been immune to this recession; their products continue to inspire record sales. www.generic-specialist...
    Mar 27 02:57 PM | Link | Reply