Through my daily readings I came across several articles about Apple’s (AAPL) quarterly earnings report and was pleasantly surprised to find that even in the midst of an economic slowdown they made fantastic earnings and even broke a quarterly sales record for their flagship line of Macintosh computers.
Some of you are probably aware that I’m a recent convert to Apple (I bought a MacBook Pro in January of this year) and also that I hold several shares of AAPL stock in an investment portfolio. I’m probably, then, slightly biased but I just can not help having a healthy level of adoration for this company. They really seem to have their stuff together.
Apple is (according to AMR Research) the most well-run company in the world when it comes to supply chain management (see the Supply Chain Top 25). They have an extremely healthy trio of products, between their iPods, iPhones and Macintosh Computers. They have the support of many educational institutions far and wide and also the support of audio and visual professionals around the world. They also have a devout following among “Apple geeks” in the computer world.
Honestly they’re one of my favorite companies, not only for their products but for the amount of respect that they deserve for the way that they run their business. So then I was happy to find that their quarterly earnings report was better than expected.
The company posted revenue of $7.9 billion and net quarterly profit of $1.14 billion…
That quote is from Digital Daily and the remainder of the article can be found through the following link: AAPLause, Please. I really like this quote from Steve Jobs which he said sometime during the earnings report.
We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt.
What a great position to be in. Zero debt and billions of dollars of cash just sitting in the bank. Like them or love them you have to admit that Apple is one very well run company.
Congratulations Apple on a great quarter (and year) and may your future be filled with all the success that you’ve found over the past several years.