By now, everyone knows that Apple had a blowout quarter: Q1FY12 sales of $46.33 billion, profits of $13.1 billion, with gross margins of 45%, translates into EPS of $13.87.

But the data points that surround the company today are simply astonishing. Consider these astounding Apple facts:

• Apple reclaimed the title of the world’s most valuable company $415B vs Exxon Mobil’s $413B (Yahoo Finance)

• The $97.6 billion in cash that $AAPL has is higher than the market value of 448 of the companies in the S&P 500. (Capital IQ)

• This was the 2nd highest profit quarter of any company ever. ExxonMobil’s Q3 08 profit of $14.8 billion needed $147 barrel oil and $140 billion in revenue. (WSJ)

• Sales rose 73% to $46.3 billion — so much for the law of big numbers working against them (CNN/Money)

• In 2009, Apple sold more iPhones than it did in 2007 and 2008 combined. In 2010, Apple sold more iPhones than it did in 2007, 2008, and 2009 combined. Last year, Apple sold 93.1 million iPhones, slightly more than it did in in 2007, 2008, 2009, and 2010 combined (Matt Richman)

• Apple’s profit of $13.1 billion was equal to their revenue in Q4 2010

• If Apple was a country, its market cap would make it 29th biggest nation, its annual revenue would make it the 52nd, its cash position 66th, and its earnings 79th, in terms of GDP  (Global Macro Monitor)

• Apple’s profits ($13 billion) exceeded Google’s entire revenue ($10.6 billion)  (Manjoo)

• Apple has now sold 315 million iPhones, iPads and iPod Touch devices running its iOS software (CNN/Money)

• Google would activate 59,653,187 Android-based devices during Apple’s fourth calendar quarter. Apple has said that iPod touch sales make up more than half of all iPod sales. That means Apple sold at least 7.7 million iPod touches. And that number, plus 37.04 million iPhones and 15.43 million iPads, means iOS outsold Android last quarter. (Matt Richman)

• Apple sold three times as many iPads as Amazon sold Kindle Fires (Tech Crunch)

Last, my favorite chart set, via Dan Frommer:

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Category: Earnings, Technology

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

34 Responses to “Apple’s Superlatives Amongst Superlatives”

  1. GlennF says:

    The iPod touch figure is incorrect, and it can be easily inferred from two other items Apple provided.

    62m iOS devices were sold
    Of that, Apple said 37m iPhones, 15m iPads

    That gets you approx. 52m exclusive of iPod touch, thus 10m iPod touch models sold. Apple sold 15m iPods, thus only 5m iPods were non-touch varieties.

  2. formerlawyer says:

    Did you look at the profit margins! Holy cow.

  3. tippet523 says:

    So how long before the store and other employees start asking why am i making 35k?

  4. brokrbob1 says:

    Barry, the question I have for you is, does this quarter and today’s price action make AAPL a buy or a sell? If all you get is a 6% move on this good a performance, what’s the use in owning it? Does the high market cap overwhelm the results? What’s a shareholder to do?

  5. wj says:

    Steve Jobs continues to amaze…even from “the other side”.

  6. sabre_jenn says:

    I remember reading how the land underneath the Emperor’s Palace in Tokyo was worth more than the entire State of California. Books and magazine articles boasted of “Japan, Inc” and how we had all better learn to speak Japanese.

    Apple’s quarter reflects some nostalgia over Job’s death, and reflects the products he was working on until resigning in August. Apple faces staggering succession risk going forward. Jobs strong personality and domination of meetings is well documented. Tim Cook was an effective #2, executing Jobs’ vision. But did Cook ever cross Jobs? (no, that is why he is still there). Long before Apple Inc was created, the saying went “nothing ever grows in the shadow of an oak tree”. Jack Welch was celebrated (rightly or wrongly) in the media for grooming managers at Government Electric — look what a mess his hand picked successor Jeff Immelt has made of GE since.

  7. Lugnut says:

    Maybe they should give Foxconn a nice little tip to share with their indentured servants.

    Nah, thats a silly thought.

  8. louis says:

    FED SAYS HOUSING `REMAINS DEPRESSED’

    FED SAYS APPLE IS http://www.youtube.com/watch?v=WmJXaNasQ84&feature=related

  9. Orange14 says:

    I think the big worry going forward is whether the iPhone sales will continue on this type of trajectory and what the profit margins will be when they expand into developing countries. At some point the US market becomes saturated with smart phones and other devices and the hardware side of the business becomes less appealing than the data carriers. I wonder also if the data carriers will now start playing hardball with APPL to recoup some of the money they are giving up. The other huge question is what the hell is the company going to do with $100B in cash?? I would be more open to APPL if they showed any inclination to return it to the shareholders and worry that they will spend this money on meaningless acquisitions the same way MSFT has done over the years. I don’t think Steve Jobs would have done this but the new management leaves this to be an open question.

  10. MikeDonnelly says:

    AAPL to shareholders, seriously you want your cash ? To invest where ?

  11. sabre_jenn says:

    I remember reading how the land underneath the Emperor’s Palace in Tokyo was worth more than the entire State of California. Books and magazine articles boasted of “Japan, Inc” and how we had all better learn to speak Japanese.

    Apple’s quarter reflects some nostalgia over Job’s death, and reflects the products he was working on until resigning in August. Apple faces staggering succession risk going forward. Jobs strong personality and domination of meetings is well documented. Tim Cook was an effective #2, executing Jobs’ vision. But did Cook ever cross Jobs? (no, that is why he is still there). Long before Apple Inc was created, the saying went “nothing ever grows in the shadow of an oak tree”. Jack Welch was celebrated (rightly or wrongly) in the media for grooming managers at Government Electric — look what a mess his hand picked successor Jeff Immelt has made of GE since.

  12. jks says:

    What to do with $100B? Easy. LBO of Verizon. Game. Set. Match.

  13. gordo365 says:

    Clearly iphones are too expensive…

  14. Orange14 says:

    @jks – LOL; I would love that being long in VZ. I think a 100% premium to the current share price would be a decent offer. Unfortunately, APPL will then have to deal with a unionized workforce that demands benefits (unlike its fine workforce at FoxConn). :-)

  15. sandyyadav says:

    What a value spinner ..Apple did it for the stake holders ..the share value has grown 30 folds in the last decade. Hats off ..http://sandyyadav.com/

  16. Petey Wheatstraw says:

    OT:

    Fed will hold low rates until 2014. Gold/PMs/industrial metals/energy/stocks, up on the news, dollar takes it on the chin.

    http://www.reuters.com/article/2012/01/25/us-usa-fed-idUSTRE80N1DQ20120125

    2014?!

    Happy Days Aren’t Here ’til Then!

    At what point will QEIII become a recognized reality? At what point do the wheels come off this bucket of bolts?

  17. bolderbob says:

    Barry,

    I dont get why APPL is selling at a PE of 10 with a 100% growth rate. Even if the growth rate drops to 20% it is still cheap. WHat do you think is going on here and do you feel the stock will ever get repriced for it’s amazing, accelerating and continuing growth?

  18. Expat says:

    Gosh, just think about how rich we would all be if every US company used slave labor as well.

    I salute Steve Jobs, etc. and bow to his God-like status amongst marketers, industry titans, and visionaries, but I also realize that Apple’s cash holdings represent about $125k per Foxconn employee. Gee, I wonder where that money came from.

    The reality is that Apple could make Ipod, Ipads, and other I-crap in Europe or in America, but it would have to sacrifice record profits and that would be anti-American.

    And what would those poor Chinese do if they could work 35 hours DAYS at Foxconn? I’m sure if you asked an unemployed Black man, he would be ecstatic to return to slavery just to get that ol’ feeling of security of employment.

  19. Expat says:

    Correction:

    And what would those poor Chinese do if they could NOT work 35 hours DAYS at Foxconn? I’m sure if you asked an unemployed Black man, he would be ecstatic to return to slavery just to get that ol’ feeling of security of employment.

  20. constantnormal says:

    The multiple compression continues … the PE of AAPL at the close on Monday was 15.2 … today, even with the 35 point gap up, and subsequent sliding back, it is only 12.8. Another couple of quarters, rolling off lesser earnings, replacing them with earnings nearly twice their size (or larger), will soon drop AAPL into the single-digit PE realm …

    When will the shareholders revolt, and force a dividend payment policy upon the management? Not before the next annual meeting, as the window for shareholder proposals is closed for this year …

    But you can bet that it’s coming, with almost a hundred billion dollars in capital invested in things other than their business … unless they unleash it over the next year and make some large acquisitions …

    I was thinking that Apple needs its own internet, and Sprint would only cost them pocket change, but looking at the size of their hoarded wealth, perhaps Verizon (market cap: $107B) is a more appropriate purchase …

    :-)

  21. constantnormal says:

    Expat:
    “And what would those poor Chinese do if they could NOT work 35 hours DAYS at Foxconn?”

    I think that one only has to look at their history … they would starve to death working longer hours for even less in subsistence-level farming.

    To the best of my knowledge, none of the Foxconn employees were dragooned into working there, and they can always quit and return to the farm, but they are committed to working themselves to death to support families that they never see, and that is the source of their despair. They cannot leave, because to do so would commit their families to the life they had previously.

    It’s not a pretty picture … the Chinese need a Henry Ford, who lifted American industry out of similar working conditions, doubling their wages rates while at the same time introducing such heretical notions as the 40-hour 5-day work week (previous conditions were a lot like those at Foxconn all over American industry, with much worse working conditions — read your industrial history), and for this, what did Henry Ford receive? He was derided as a socialist trying to destroy American capitalism. Instead he created a vibrant middle class that enriched and stabilized the nation. Ford was no saint, he liked the Nazis and their efficient society, but he was no devil either.

  22. Futuredome says:

    Ford also went to the Soviet Union and profitted……along with Fred Koch.

    Ford was mentally ill by the 30′s though.

  23. constantnormal says:

    @Petey Wheatstraw

    “At what point will QEIII become a recognized reality? At what point do the wheels come off this bucket of bolts?”

    My best guess is one (or both) of two things will cause the wheels to separate and QE3 to be invoked (and fail) …

    1) the EU finally implodes, and sends a shock wave throughout the global economy .. how this will occur, I haven’t a clue … but while the amount of can-kicking that has been done is impressive, in the end it is only kicking the can, and eventually it will fail to extend their fantasy union … they still show no signs of even considering the structural changes necessary for the EU to survive on an ongoing basis. None of the EU members are willing to cede any further authority/sovereignity to a federalized central government.

    2) in 2013, following our disastrous election farce, we start turning the austerity crank here, with results similar to those achieved in 1937, when they tried to reduce the deficit and shattered the faux recovery they had in place …

    Either way, I don’t think the Fed is going to get to wait until 2014 to raise rates, rates will be rising beyond their control before then.

  24. constantnormal says:

    @sabre_jenn

    “Apple faces staggering succession risk going forward. Jobs strong personality and domination of meetings is well documented. Tim Cook was an effective #2, executing Jobs’ vision.”

    The vision thing is a good point, but you underestimate the influence of Tim Cook, and for how long he has been effectively running the company.

    Steve Jobs had a huge influence on the products, acting as a filter to keep crap out of the customers’ hands, but he had not-so-much to do with the running of the company. And Jobs didn’t create the products either, he instead hired brilliant creative people to do so, and only worked to ensure that their designs were implemented in the best way possible. This people are still in place, but it remains to be seen if their designs will continue to be translated into the same quality products going forward.

    They talk about their product development pipeline being very long, and I believe them. There’s a reason for all that famous secrecy.

    But as to the efficiency and skill with which the business is run, there is no question. None whatsoever.

    But watch the product quality in the years to come. That will tell us if the corporate culture is sufficient to replace its creator.

  25. cmc says:

    “New screens began arriving at the plant near midnight. A foreman immediately roused 8,000 workers inside the company’s dormitories, according to the executive. Each employee was given a biscuit and a cup of tea, guided to a workstation and within half an hour started a 12-hour shift fitting glass screens into beveled frames. Within 96 hours, the plant was producing over 10,000 iPhones a day. ” That quote was from a recent article in the NYT. After reading the article I will never buy anything made by Apple.

    It’s Apple gets rich exploiting workers overseas and dodging taxes in this country.

  26. Expat says:

    @constantnormal: Yeah, and we should import North Koreans and use them as lawn furniture, cuz, heck, that has GOT to be better than living as they do.

    We used to slaughter Native Americans for fun and profit, so I guess we should just chuckle over torturing Afghanis and Iraqis. I know enough about American history, including industrial history, to understand that American workers had similar horrid conditions, but how does that justify condoning, supporting, and collaborating in quasi-slave labor in China. You seem to be saying, “Heck, those Chinese will rise up sooner or later so let’s make hay while the gettin’s good!”

    Seriously, what exactly is your point? Is it that Apple is performing a great social service to the Chinese by providing them employment off the farm? What’s your view of child labor? Those pesky brats would be out begging if not for Nike factories giving them something to do 16 hours a day, seven days a week.

    China doesn’t need a Henry Ford. China needs an enema and for the US to collapse.

  27. tomho says:

    constantnormal Says:

    “I think that one only has to look at their history … they would starve to death working longer hours for even less in subsistence-level farming.

    To the best of my knowledge, none of the Foxconn employees were dragooned into working there, and they can always quit and return to the farm, but they are committed to working themselves to death to support families that they never see, …”

    Well, that is true only under Chinese Communist government. Chinese would have much better life and living environment in rural area without Chinese Communist Party (CCP). CCP turn all peasants and their descendants to slave. Apple take advantage of that. Really nothing wrong for a company that only care about profit.

  28. Theravadin says:

    Argggghhhhhh! I surrender.

    (Kneel, prostrate myself to the gods of Cupertino, beat my head on the floor to rid myself of all Apple skepticism)

    I have seen the light….

    No no no, that’s wrong, I have to learn to do it the Apple way:

    I have seen the ilight. I sense the coming of the irapture, when all true believers will be lifted up bodily to iheaven, where all iapps are free. Yes! Oh yes! The iworld is here. I am isaved. My life is icomplete. Thank you great god Steve, for rescuing me from my servile, unworthy life. Now I am ready for ilife (c). Apple forever!

  29. [...] Apple’s Superlatives Amongst Superlatives [...]

  30. [...] Today, the financial press is abuzz with this:  [...]

  31. Thor says:

    Gosh, just think about how rich we would all be if every US company used slave labor as well

    Gosh, that’s quite a red herring Expat. What rock in the South Pacific have you been living under the last 20 years. Every us company does use Chinese Slave labor. Name me one US technology company that manufactures in the US.

    That argument is almost as tired as the old “Apple only does well because they’re trendy right now” argument.

  32. Thor says:

    Expat – I just have to say, I find your arguments against Apple both flimsy and more than a little hypocritical. Where exactly was the computer you’re reading this blog on made? How about the cell phone you call your family with? Are you equally as righteous with every company? Because I have to tell you, reading you here for the last few years, your hatred of all things Apple seems odd to me. If you’re going to go down the “we shouldn’t be using the cheap Chinese labor everyone in else in the world does” then make that argument and use the thousands of companies in the world who manufacture there as examples every once in awhile.

  33. Expat says:

    The article is not about every US company that uses Chinese slave labor. The article is about Apple. Apple uses Foxconn to manufacture its products. Foxconn is the largest electronics assembler in the world.

    I am reading this blog on a Dell assembled in Ireland and Mexico (screen). My cell phone was assembled in Korea. Do I consume many Chinese products? Yes, of course. Would I like to not do that? Yes. I do not buy any food product made in China.

    Am I equally righteous with every company? Yes, but not every company is in the spotlight like Apple. America holds Apple up as some kind of paradigm of Americanism, a paragon of everything that is good and right about our economy and society. If there is a story out there about another company’s record profits built on the backs of Chinese slave labor, I will happy to criticize it.

    In any case, if I understand you correctly, you are not disagreeing with me, but rather you appear to be annoyed that I have singled out Apple, perhaps out of your own guilt over owing Apple stock or an Apple product. Thor’s comments are of similar nature; he castigates me for pointing the finger at Apple when everyone else does it.

    Next time someone on this blog makes a negative comment about Bernanke or Blankfein, I would hope to see both of you demanding a full list of every person in the world guilty of some sort of financial malfeasance or incompetence, because that is what you are asking of me.

  34. Bob A says:

    thank the gods their are alternatives to apple