News: Apple finances on rise, increase of 90% profit in Q2

Apple reported a 90% growth of his total revenue. Wall Street estimated a 49%

This Tuesday, Apple surprised us surprising even their more optimist forecast: His total revenue (Price x Quantity) increased a 90%, when all the economist aimed their forecast to something on the forty %, being Wall Street one of the more optimistic with a forecast of 49% revenue increase.

Steve Jobs, chief executive, said that the new iPad had been well received since it broke into the market April 3. Steve promised 'several more extraordinary products in the pipeline for this year', and the Computer market analysts pointed to the possibility of the release of a new version of the iPhone in summer, as early as June.

On the other hand, Peter Oppenheimer, chief financial officer, warned that margins probably will fall in the present quarter, because iPad launch costs. Even Peter said that the revenue will be between $13bn and $13,4bn (€9.7bn and €10bn) the analysts suggested that he's being too conservative and expected a bigger revenue.

Executives said that iPad demand was better than what they anticipated, having trouble to supply the shops. "We're adding capability. It has shocked us, the level of demand, at least initially", said Mr Cook, Chief Operating officer of Apple. Mr Cook didn't commented how much iPad would add to Apple's total profit on the medium-long term, but said that they expect that will perform as much as iPhone, giving it a big role on the Apple's profit

Michael Obuchowski, managing director at First Empire Asset Management Inc, in Hauppauge, New York, oversees a $3.8bn in assets and praised the 'incredible numbers' of Apple. "With the improving global economy lifting all the boats, Apple will benefit more than most.", ended.

Now, let's take a look at the numbers of Apple devices:

COMPUTERS
- The company sold 2.94 million Macs, a 33 percent increase (28% increase of portable MacBook and a 40% of Apple's desktop computers).
- Sales of the Mac rose 27 percent to $3.76 bn. The demand of portable MacBook surpass the desktop systems demand.

IPHONE
- Vodafone in the UK and others new carriers, doubled the shipments of iPhones. Pretty impressive, knowing that the average selling price of a single iPhone is $600, but they managed to ship 8.75 million iPhones. Apple did it especially well in Europe and Asia, where sales rose a 400%
- iPhone sales and related products, gained a 124 per cent increase, with a total revenue of $5.45bn. iPhone's alone represent a 40% of total Apple's revenue

IPOD
- Apple still sold 10.9 million of the digital players.
- IPod sales rose 12% percent to $1.86 billion, an average but still important piece of the cake.

IPAD
No one can offer statistics about iPad, as the study didn't include the iPad, which went on sale April 3, but investors anticipate that sales will climb as much as iPhone did (even more), especially when new products will be released such an updated iPhone and a television related device

Apple's future:
Toni Sacconaghi [ENLLAÇ], Analyst at Sanford C. Bernstein & Co. in New York, estimated shipments of 7.3 million iPhones, 3.1 million Macs and 9.9 million iPods. Sacchonaghi rated the stock as 'outperform', is also the top-ranked computer analyst by Institutional Investor magazine. Gene Munster, analyst at Piper Jaffray & Co in Minneapolis said : "The iPhone is on the fire right now,"



Will Apple exceed again their forecast? How will iPad impact Apple's revenue? Make your own forecast at 'comments'

See also:
CNN - Apple soars with 90% increase in profits
Yahoo News - Apple shares rocket after net income jumps 90 pct Share

News: China oil demand 12.8% growth

Chinese economy growth a 12%, as well as China's oil demand

Chinese growth and resurfacing from their crisis is in a steady state. China was criticized because their economy actions, such as devaluation of Yuan, but China is showing a fast recovery (so fast for some people, who said that China's economy is a bubble) and as we informed, China's economy growth 12%, but also is his oil demand.

According to an analysis of official data by Platts, the energy information branch of McGraw-Hill Cos, Chinese oil demand rose 12.8% in March, reaching a purchase of 8.12 million barrels per day over March, being this the seventh month of a raising in demand oil for China. being the top 8.5 million barrels per day at February. This (Patts says) is helped by the state owned companies Sinopec, PetroChina and China National Offshore Oil Corp who increased their refining capacity.

Also as Chinese economy growth, their gross domestic product (GDP) growth a 11.9% in the first quarter of 2010.

Is hard right now to forecast what would be the roof of the Chinese oil demand. Right now, the biggest consumption are made by transportation (5% of personal cars only of 44% of the total consumption) and industry, owned by the state.

Feel free to say your own forecast, commenting the post below these lines

More information: Yahoo News - China oil demand up

Related posts:

China's economy grows nearly 12 percent

Chinese economy sky-rockets: Sales in rural areas increases 510%

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Economy Lesson: Who's “Protected” by Tariffs?, by Henry Hazlitt

The daily lesson:

A mere recital of the economic policies of governments all over the world is calculated to cause any serious student of economics to throw up his hands in despair. What possible point can there be, he is likely to ask, in discussing refinements and advances in economic theory, when popular thought and the actual policies of governments, certainly in everything connected with international relations, have not yet caught up with Adam Smith? For present-day tariff and trade policies are not only as bad as those in the seventeenth and eighteenth centuries, but incomparably worse. The real reasons for those tariffs and other trade barriers are the same, and the pretended reasons are also the same.

Since The Wealth of Nations appeared more than two centuries ago, the case for free trade has been stated thousands of times, but perhaps never with more direct simplicity and force than it was stated in that volume. In general Smith rested his case on one fundamental proposition: “In every country it always is and must be the interest of the great body of the people to buy whatever they want of those who sell it cheapest.” “The proposition is so very manifest,” Smith continued, “that it seems ridiculous to take any pains to prove it; nor could it ever have been called in question, had not the interested sophistry of merchants and manufacturers confounded the common-sense of mankind.”

From another point of view, free trade was considered as one aspect of the specialization of labor:

It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy.

The tailor does not attempt to make his own shoes, but buys them of the shoemaker. The shoemaker does not attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers. All of them find it for their interest to employ their whole industry in a way in which they have some advantage over their neighbors, and to purchase with a part of its produce, or what is the same thing, with the price of a part of it, whatever else they have occasion for. What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

But whatever led people to suppose that what was prudence in the conduct of every private family could be folly in that of a great kingdom? It was a whole network of fallacies, out of which mankind has still been unable to cut its way. And the chief of them was the central fallacy with which this book is concerned. It was that of considering merely the immediate effects of a tariff on special groups, and neglecting to consider its long run effects on the whole community.

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