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A little more on Apple: FQ1 iPhone revenue +28% Y/Y to $30.7B (56% of sales), healthy ASP of...

A little more on Apple: FQ1 iPhone revenue +28% Y/Y to $30.7B (56% of sales), healthy ASP of $641 (was $636 in FQ4). iPad revenue +22% to $10.7B, ASP falls to $467 from $536 thanks to iPad Mini. Macs -16% to $5.5B, ASP rises to $1,359. iPods -15% to $2.1B, iTunes/software/services +22% to $3.7B, accessories +25% to $1.8B. Opex +14% Y/Y to $3.85B (7% of revenue) R&D spending +33% to $1.01B. Free cash flow of $21.1B vs. net income of $13.1B.
Comments (23)
  • What about these numbers justify a 6.5% drop exactly?
    23 Jan 2013, 05:07 PM Reply Like
  • It is not specifically these numbers. The lower guidance for the next quarter is having an impact on share levels. Also, after-hours is not the same volume as regular trading day, so moves can get exaggerated; better to wait and see how shares look tomorrow and Friday.
    23 Jan 2013, 05:49 PM Reply Like
  • Herr: I don't think I want to know how the shares trade tomorrow and Friday...
    23 Jan 2013, 10:10 PM Reply Like
  • With a 13 week quarter compared to 14 weeks last year, these numbers amounts to a blowout quarter. Apple's usual low-ball forecast causes pressure on the stock. This next quarter coming up should be huge, thanks to Chinese New Years.
    23 Jan 2013, 05:18 PM Reply Like
  • You are correct. Plus, there is big China news coming. Apple is sand bagging as usual. They always beat their guidance in all areas and continue to lead and innovate in all products. Its just that most "know it all's" and "quasi analysts" think they know more. Apple is a long term stock. Let the minions play the ups and downs.


    Plus, all of their suppliers are retooling and gearing up production because of the latest breadth of innovation they have delivered across their entire product line. Just to be able to fulfill current demand let alone future demand. Consumers will wait for better products and avoid the crappy ones.
    23 Jan 2013, 06:13 PM Reply Like
  • imac screen supply constraints hurt a bunch
    23 Jan 2013, 05:30 PM Reply Like
  • now down over 10%...kinda crazy!...but thats why we play
    23 Jan 2013, 05:34 PM Reply Like
  • The cash just keeps piling up inside this monster.
    23 Jan 2013, 05:46 PM Reply Like
  • yah mine included, I am pissed...
    23 Jan 2013, 07:33 PM Reply Like
  • Share buy back for 100 billion.


    No brainer.
    Who would be the looser?


    Or perhaps Tim works for the shorts?
    Doesn't seem to care about the shareholders that is for sure.


    What can they do with 137 Billion???
    Surely 37 would be enough...?


    Anyway they make another 10-15 billion every quarter.
    23 Jan 2013, 05:55 PM Reply Like
  • Buy companies like Nest would be a great idea (in my opinion) when they are ready to. They can cherry pick the companies, IP and innovation they want as long as it fits into their digital lifestyle of products.
    23 Jan 2013, 06:15 PM Reply Like
  • Agreed but spending more than 10billion a year that way might be difficult and they will make over 50 billion this year.


    You buy to much and you loose focus and that would be a disaster...
    23 Jan 2013, 06:23 PM Reply Like
  • Let it keep sinking, makes it that much more of a bargain!! Love the stock, love the company.
    23 Jan 2013, 07:06 PM Reply Like
  • Not a seasoned investor by any can anyone shed some light on what is going on here? I started accumilating shares with a cost basis of $570 over the course of this past year. I bought with the plan of holding for the next 3-5 years at the very least. I'm sure some doomsayers and trolls will pile on me here but is my concern and outright befuddlement justified as to why such a solid company is getting mauled the way it has? Why Amazon with its astronomical P/E and Google at $730+ ticks on and on virtually unphased?
    23 Jan 2013, 07:07 PM Reply Like
  • good points about amzn and goog.....throw in crm and get the such a great company search with fifty million adds and commercials and no dividend to boot....
    23 Jan 2013, 07:37 PM Reply Like
  • Here's the thing, "Gross margin was 38.6 percent compared to 44.7 percent in the year-ago quarter." It doesn't matter that everything else was "records", including 75 million iOS devices sold in one quarter no less! Wall Street just does not believe that the Apple shines anymore, this drop begs the question, "Well what will the margin be January 2014, 33%?"


    The question for an investor, especially those that got in at prices over $400 is what should your limit be? Can Apple still increase market share given decreasing profit margins? Will Wall Street reward Apple if say Apple garners 50% of the Chinese market, even if it means going to a quality phone albeit at a smaller profit margin - a cheap phone? Is there next quarter guidance of what 38% gross margin lower y/y? If so the fixation on declining profit margin will continue to drive the price down.


    It just doesn't appear that record revenue and sales and quality products matter anymore. And you are right compared to Google and Amazon it doesn't make a lot of sense.


    But here's the difference, and I am long AAPL. We have to come to terms with the fact that it appears that Apple derives its huge revenues from "new" customers, many of whom are repeat customers, saturation will come, ... unless, and this is a huge unless, new products come down the pike.


    With Apple's, IMHO, necessary culture of secrecy, you never really know when the product will come. All the other innovation, like the alleged IZGO screen are ubiquitous in nature, although very much continue the pursuit of quality. That's why I think the Lumia's future camera is not really a big deal, since right now every smartphone OEM is spending R&D on the "next" camera. But a rule changing product like the iPod, iPhone, or iPad, that's the only thing that matters these days when it comes to Wall Street's view of Apple.


    Herein, lies the risk of being an Apple investor. I've already pulled out my original investment, but I may consider a bottom of $400 thereabouts.
    23 Jan 2013, 09:32 PM Reply Like
  • This is just silly , 137 Billion in cash , earnings beat estimates , 47 million I Phones without China"s biggest resource , etc . wow ,, just close the company down , oh wait , what about new T.V.... , huge money being spent on research etc oh wait once more p/e more reflective of a staid company . oh well maybe just put money in bank C.D. .01% or better yet ????? wait for people with some brains who will recognize how solid Apple is !
    23 Jan 2013, 07:08 PM Reply Like
  • When will the Apple Board start looking out for its investors.


    I know they want to build an excellent product, but a stock split will do nothing to their internal operations, and mean a lot to individual investors. Tell your friends to buy Apple tomorrow - its really on sale now--especially at these prices.
    23 Jan 2013, 07:17 PM Reply Like
  • all the big wigs in the company own a lot of its stock too so you would think they would have even more incentive to look out for the stock price. But then again, they have more resources than most of us to buy when it drops.
    23 Jan 2013, 09:43 PM Reply Like


    Probably not much incentive to keep shares, nor to worry about share levels, at least when some of those shares are awarded at $0 per share. It's interesting the volume of insider sales, and some of the price points on insider purchases. Of course a wealthy insider may just be freeing up cash, or simply selling for another reason. It would be interesting to get more details on the Gore transaction.
    23 Jan 2013, 10:31 PM Reply Like
  • What do I like: R&D spending +33% to $1.01B
    23 Jan 2013, 07:17 PM Reply Like
  • Yes, that gives hope indeed!
    23 Jan 2013, 09:37 PM Reply Like
  • Apple needs to have an additional company building their products. If product was available they would have sold 15 million more iphones. i had to wait 3 weeks on mine and waited because I have had the iphone 4 and knew the product was great. I would imagine that most that haven't owned an iphone chose another phone in stock over waiting 3 weeks for an iphone.
    23 Jan 2013, 09:43 PM Reply Like
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