Instant view: Apple blows away Wall Street, again
(Reuters) - Apple Inc's quarterly earnings and forecasts easily beat Wall Street's estimates, helping the technology giant's shares up 7 percent after hours.
The following are comments from investors and analysts.
MIKE HOLT, ANALYST, MORNINGSTAR
"It's really a blockbuster quarter for them, especially on the iPhone. That number alone is a dramatic increase. It really shows the strength of the iPhone 4S, and we haven't even seen it hit all the major markets yet."
"To get that kind of market they didn't have to sacrifice on the average sale price (for the iPhone). Now we see the strength of the new phone in action. That tops my estimates for what I was optimistically anticipating for the quarter."
"What we see here is there is plenty of room for Apple to keep growing at the same time Android is having success."
MICHAEL WALKER, PORTFOLIO MANAGER, WP STEWART
"What's really impressive is they are raising guidance. Their Q4 was so huge. Everybody expects the iPad 3 to come out in March like it normally does. You think you'd see a major pause in iPad shipments and seasonality. I thought it would drag guidance down to see what they say qualitatively on the call. It doesn't seem to be causing a problem."
"The iPhone ASP was up sequentially to $659. Which is interesting when they introduced the free 3GS and the iPhone 4 is at 8G for $99. A lot of people thought iPhone volume would be strong but they thought they would be propelled by cheaper models." Continued...