Remember George Hotz, the teen hacker from New Jersey who gained fame last year by unlocking the Apple iPhone? Well Apple made a point of coming out with new firmware that has proved far more difficult to crack. At least until now. It seems that the industrious teen ager was the one to also crack the new firmware....
She just said Apple was the "It" stock last year.... and the "shi...iii....iii....t" stock this year....
Not exactly the best way for a serious television journalist to express it. She just keeps stepping in it...
Apple lost nearly 18 points after the close when it issued an earnings outlook that disappointed. The shares closed the regular hours session at $155.64, down $5.72, after recovering from a low of $146 set early in the day as the market was cratering. It closed the extended hours session at $137.90.
Continue reading "Apple dumps after hours after issuing a disappointing outlook" »
Apple made moves to tighten the screws on sales of its iPhones. Now if you want them, you can't pay cash, and you're limited to two units per person.
"Customer response to the iPhone has been off the charts, and limiting iPhone sales to two per customer helps us ensure that there are enough iPhones for people who are shopping for themselves or buying a gift," Kerris said. "We're requiring a credit or debit card for payment to discourage unauthorized resellers."
Apple thinks some people already have purchased multiple iPhones to resell, including those looking to modify, or "unlock," the phones so they work on networks other than Apple's carrier partner in the United States, AT&T.
Apple estimates that buyers of 250,000 of the iPhones sold so far intended to unlock them, Apple's chief operating officer Tim Cook said in a conference call with analysts this week.
Just two iPhones a buyer - AP via Mercury News
Apple reported kick ass numbers after the close.And the stock skyrocketed. The stock closed the regular hours session at $174.36. After hours it ended nearly $12 higher, at $186.35. There will be upgrades galore by tomorrow morning. Here are some comments from Bear Stearns analyst Andrew Neff in his post earnings research note:
***SOLID RESULTS, OUTLOOK. While AAPL delivered significant EPS upside (18th in a row) on Mac strength, better GM and tax help, contrary to the norm, it also provided favorable/above-Street guidance. Given the confluence of product cycles for Mac (new iMac, low channel inventory, Leopard OS), iPod (strong acceptance of new products) and iPhone (Euro launch), we see AAPL well positioned for the holiday season. We're raising ests sharply and setting our CY08 at $243.
***STORY GETTING BETTER. Looking ahead, we see multiple drivers (e.g., Leopard OS, Euro iPhone launch and potential for 3G iPhone and/or ultraportable at Macworld on 1/15/08), including our thesis that iPhone is emerging as a personal digital lifestyle device. Beyond that, we see video as the next big driver, but pieces are still coming together. ***SOLID 4Q07. AAPL's EPS of $1.01 was above our $0.83 est. (Street at $0.86) on higher revs (+$350mm or 6%), GM strength (mix, component pricing) and lower tax rate (added $0.08/sh). Revs of $6.22bn beat our est. of $5.87bn, led by strong Mac results....
Apple shrugged off a post earnings announcement sell off to soar on better than expected earnings. The stock halted in advance of earnings, and when it reopened it traded off some 7 points, down to around $130, from its regular hours close. But when the dust settled and clearer minds prevailed, the stock skyrocketed, ending the after hours session at just over $150.
Apple Inc. said third-quarter profit soared 73 percent, more than analysts predicted. The shares rose 8.8 percent after orders for Macintosh computers set a record and shipments of the new iPhone met most estimates.
Net income increased to $818 million, or 92 cents a share, from $472 million, or 54 cents, a year earlier, Cupertino, California-based Apple said today in a statement. Sales rose 24 percent to $5.41 billion in the quarter ended June 30, topping analysts' estimates of $5.32 billion.
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IFixit has great teardown pictures of the guts of the iPhone. If you have a position in Marvell you'll probably be pretty happy from what they say they've found...
Continue reading "Great Apple iPhone teardown pictures from iFixit" »
Speculation has been at fever pitch for months overjust what components are inside Apple's new iPhone. Now that it's out, people are finding out. These guys had a tough time opening the unit, so took to it with a hammer:
Continue reading "Getting smashed: Deconstructing the iPhone" »
And they're from Apple's former CFO, Fred Anderson. Meanwhile, the SEC has closed their backdating probe into the firm.
According to the Wall Street Journal:
Apple Inc.'s former chief financial officer, in a striking public statement, asserted that Chief Executive Steve Jobs misled him about board actions on stock-options awards, and that he told Mr. Jobs the company might have to take a charge against earnings if it backdated stock-options grants -- a charge it didn't take.
The allegations by Fred Anderson, now a partner in a Silicon Valley private-equity firm, could complicate efforts by Mr. Jobs to stay above the options-backdating fray, which has swept up Apple and more than 140 other companies in federal investigations and forced about 80 corporate executives out of their jobs.
Continue reading "Steve Jobs faces new backdating accusations..." »
