Living Up to the iHype

[David Farber <dave () farber net>]

------ Forwarded Message
From: Monty Solomon <monty () roscom com>
Date: Sat, 15 Jan 2005 16:35:40 -0500
To: Monty Solomon <monty () roscom com>
Subject: Living Up to the iHype


Living Up to the iHype

Don't let the headlines fool you (little f). It's about more than the
iPod. But the amazing increases in profitability at Apple have one Fool
wondering if he's not the one putting on the leather jacket and grabbing
for the waterski rope.

By Seth Jayson (TMF Bent)
January 13, 2005 

iHype in the house

This will come as no big shock to some of you. I've been pretty hard on
Apple (Nasdaq: AAPL). As recently as yesterday, I suggested that the firm
might not live up to its skyrocketing stock price. You can read the full
argument here. Then you can ignore most of it. Apple smacked the ball out
of the park with yesterday's earnings release, and let me be the first to
say that I was way wrong about a few things.

Here are the numbers: earnings of $0.70 per share for the holiday
quarter. That's four times better than last year, nearly 50% better than
most analysts had hoped, and nearly the equivalent of what the company
earned for the entire fiscal year that ended last fall. Revenue of $3.5
billion was 74% better than in 2003.

I fully expected iPod sales to be outrageous. Let's face it; like it or
hate it, this is the most popular machine on Earth right now. My main
worries with Apple over the past several months have been these:

...

http://www.fool.com/news/commentary/2005/commentary05011301.htm


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