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Wednesday, July 19, 2006

Apple Up on a Relief Quarter

It reported $0.54 EPS and $4.37 Billion versus expectations of $0.44 and $4.41 Billion. That EPS number probably has some gains in it as well. It sold 8.1 million iPods and shipped 1.33 million Macs shipped, versus expectations of about 7 million iPod and 1.25 million Macs.

Apple's guidance was $0.49-0.51 versus $0.51e and 4.5 to $4.6 billion, short of $4.95 billion estimates.

While the AAPL guidance looks light, they are traditionally conservative. Shares are up almost 1% from its closing prices as they were relieved that worries for this last quarter were mostly exaggerated. We just need to see if the street keeps this "whatever" attitude to the company's slightly lower guidance. Its shares are down over $30.00 from this year's high of over $86.00. We'll no doubt see many calls on this in the morning.

Jon C. ogg
July 19, 2006

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