Apple Profit Surges 94% on Strong iPhone, iPad Sales

[Trajan]

those evil, slimy greedy bastards!!!You know what their profit margin is??? my god.....

I want an investigation.....do you know that Apple gets tax breaks? yes thats right, just like Oil co's........I want a windfall profits tax , if they earned less per unit leedle po' chillen could afford Ipads....


Apple Profit Surges 94% on Strong iPhone, iPad Sales

Apple Inc.'s fiscal second-quarter profit jumped 94% as the consumer electronics giant reported strong sales of its iPhone and iPad products.

For the quarter ended March 31, Apple reported a profit of $11.62 billion, or $12.30 a share, up from $5.98 billion, or $6.40 a share, a year earlier. Revenue increased 59% to $39.19 billion, with 64% of the top line coming from international sales.

In January, the company projected earnings of about $8.50 a share on revenue of about $32.5 billion, above Wall Street's estimates at the time. Analysts had most recently forecast a per-share profit of $10.04 and revenue of $36.81 billion. Gross margin widened to 47.4% from 41.4%.

more at-
Apple Profit Surges 94% on Strong iPhone, iPad Sales - WSJ.com

 

[Mr. H.]

Never ceased to amaze me how people want something as useful and truly vauable as oil to be cheap as dirt. It gives you an idea of our sense of priorities.

 

[Rocko]

what a beast! I wish they weren't such pussies when they issue forward guidence. That would make there earnings play's much more interesting.

 

[Jos]

Apple: why doesn't it employ more US workers?

The electronics giant assembles its gadgets in China. But, according to new research, if it moved its production home, it would still be hugely profitable and create thousands of jobs

In the case of Apple, outsourcing manufacturing is not about keeping costs to customers down – they are still paying huge prices for the latest handset or tablet computer. Nor is it about the company's survival: it would still do tremendously well were it to bring those factories back home. No, in the case of Apple, moving jobs offshore has become a way of directing ever more money to those at the top of American society.

Apple: why doesn't it employ more US workers? | Technology | The Guardian

 

[JStone]

Apple thanks God for Jewish geniuses in Israel who invented critical technology in every Apple product

[ame=http://www.youtube.com/watch?v=yA4wnqRAuhI]Apple to set up Israel development center - YouTube[/ame]


[ame=http://www.youtube.com/watch?v=qH1mYikmYzo]Apple to Acquire Anobit? - YouTube[/ame]

Apple today confirmed earlier reports it has acquired Israel-based flash memory startup Anobit....which makes flash memory technology found in the iPhone, iPad, and MacBook Air.. The deal was reported to be worth $400 million to $500 million. Apple confirms Anobit acquisition | Apple - CNET News

 

[eflatminor]

those evil, slimy greedy bastards!!!You know what their profit margin is??? my god.....

Clearly, we need more government oversight of the computer industry. Can you image how much better things would be for all of us with government-produced computers? Why, it would just as great as the education and healthcare industries are now. Awesome!

 

[BillyV]

Apple: why doesn't it employ more US workers?

The electronics giant assembles its gadgets in China. But, according to new research, if it moved its production home, it would still be hugely profitable and create thousands of jobs

In the case of Apple, outsourcing manufacturing is not about keeping costs to customers down – they are still paying huge prices for the latest handset or tablet computer. Nor is it about the company's survival: it would still do tremendously well were it to bring those factories back home. No, in the case of Apple, moving jobs offshore has become a way of directing ever more money to those at the top of American society.

Apple: why doesn't it employ more US workers? | Technology | The Guardian

All true, but according to Apple (and the NY Times), only part of the story:


http://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-middle-class.html?pagewanted=all

Not long ago, Apple boasted that its products were made in America. Today, few are. Almost all of the 70 million iPhones, 30 million iPads and 59 million other products Apple sold last year were manufactured overseas.
Why can’t that work come home? Mr. Obama asked.
Mr. Jobs’s reply was unambiguous. “Those jobs aren’t coming back,” he said, according to another dinner guest.

Why?

“Apple’s an example of why it’s so hard to create middle-class jobs in the U.S. now,” said Jared Bernstein, who until last year was an economic adviser to the White House.
“If it’s the pinnacle of capitalism, we should be worried.”
Apple executives say that going overseas, at this point, is their only option. One former executive described how the company relied upon a Chinese factory to revamp iPhone manufacturing just weeks before the device was due on shelves. Apple had redesigned the iPhone’s screen at the last minute, forcing an assembly line overhaul. New screens began arriving at the plant near midnight.
A foreman immediately roused 8,000 workers inside the company’s dormitories, according to the executive. Each employee was given a biscuit and a cup of tea, guided to a workstation and within half an hour started a 12-hour shift fitting glass screens into beveled frames. Within 96 hours, the plant was producing over 10,000 iPhones a day.
“The speed and flexibility is breathtaking,” the executive said. “There’s no American plant that can match that.”

They are hungrier than we are. Americans in general would not be willing to stay in dormitories housing tens of thousands to be available to be awakened at midnight in today's world. Now 100 years ago, American's did work 12-hour (and longer) shifts in factories producing all manner of products, in less than ideal conditions. That couldn't happen today; as in Rocky III, where Mickey tells Rocky "The worst thing that happened to you, that can happen to any fighter: you got civilized."

It is hard to estimate how much more it would cost to build iPhones in the United States. However, various academics and manufacturing analysts estimate that because labor is such a small part of technology manufacturing, paying American wages would add up to $65 to each iPhone’s expense. Since Apple’s profits are often hundreds of dollars per phone, building domestically, in theory, would still give the company a healthy reward.
But such calculations are, in many respects, meaningless because building the iPhone in the United States would demand much more than hiring Americans — it would require transforming the national and global economies. Apple executives believe there simply aren’t enough American workers with the skills the company needs or factories with sufficient speed and flexibility. Other companies that work with Apple, like Corning, also say they must go abroad.

It is cheaper to manufacture with slave labor, but that is far from the only consideration. I don't pretend to know the answer to the problem, but at some point we will either have to erect walls of protectionism or reduce some of the onerous regulations to protect the industry we have left.

 

[Jos]

[ame=http://www.youtube.com/watch?v=ZbWRfBZY-ng]James McMurtry "We can't make it here" - YouTube[/ame]

 

[Middleoftheroad]

Apple: why doesn't it employ more US workers?

The electronics giant assembles its gadgets in China. But, according to new research, if it moved its production home, it would still be hugely profitable and create thousands of jobs

Apple: why doesn't it employ more US workers? | Technology | The Guardian

All true, but according to Apple (and the NY Times), only part of the story:


http://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-middle-class.html?pagewanted=all



Why?

“Apple’s an example of why it’s so hard to create middle-class jobs in the U.S. now,” said Jared Bernstein, who until last year was an economic adviser to the White House.
“If it’s the pinnacle of capitalism, we should be worried.”
Apple executives say that going overseas, at this point, is their only option. One former executive described how the company relied upon a Chinese factory to revamp iPhone manufacturing just weeks before the device was due on shelves. Apple had redesigned the iPhone’s screen at the last minute, forcing an assembly line overhaul. New screens began arriving at the plant near midnight.
A foreman immediately roused 8,000 workers inside the company’s dormitories, according to the executive. Each employee was given a biscuit and a cup of tea, guided to a workstation and within half an hour started a 12-hour shift fitting glass screens into beveled frames. Within 96 hours, the plant was producing over 10,000 iPhones a day.
“The speed and flexibility is breathtaking,” the executive said. “There’s no American plant that can match that.”

They are hungrier than we are. Americans in general would not be willing to stay in dormitories housing tens of thousands to be available to be awakened at midnight in today's world. Now 100 years ago, American's did work 12-hour (and longer) shifts in factories producing all manner of products, in less than ideal conditions. That couldn't happen today; as in Rocky III, where Mickey tells Rocky "The worst thing that happened to you, that can happen to any fighter: you got civilized."

It is hard to estimate how much more it would cost to build iPhones in the United States. However, various academics and manufacturing analysts estimate that because labor is such a small part of technology manufacturing, paying American wages would add up to $65 to each iPhone’s expense. Since Apple’s profits are often hundreds of dollars per phone, building domestically, in theory, would still give the company a healthy reward.
But such calculations are, in many respects, meaningless because building the iPhone in the United States would demand much more than hiring Americans — it would require transforming the national and global economies. Apple executives believe there simply aren’t enough American workers with the skills the company needs or factories with sufficient speed and flexibility. Other companies that work with Apple, like Corning, also say they must go abroad.

It is cheaper to manufacture with slave labor, but that is far from the only consideration. I don't pretend to know the answer to the problem, but at some point we will either have to erect walls of protectionism or reduce some of the onerous regulations to protect the industry we have left.

The easiest solution to the problem is to let it fix itself. China's economy is growing so quickly that slave wage labor will soon be a thing of the past. Even with this pullback they are experiencing now, they are still expecting GDP growth to be about 7.5%. Bigger products that have smaller margins per weight (higher shipping costs) are already moving jobs back to the US. If the current trend continues, within 10 years it will no longer be profitable to produce anything in China and ship it to the US.
As for Steve Jobs and his comment. The simple truth is this. A CEO's job is to maximize profits. Nothing else. If he is not doing everything in his power to make money for his company, he needs to be fired. Whether that includes shipping jobs oversea's or Buffet trying to pay the least amount in taxes.

Edit: Also why would the twelve hour work day matter? There are many places right here in America, that run a second and third shift. If you run 3 shifts, that means someone is always on.

 

[Mr. H.]

Apple 'avoiding billions in global taxes,' report claims - Yahoo! News

Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company's profits, according to The New York Times.

Saturday's report said an office in Reno, Nevada, where the corporate tax rate is zero, was one of many that the California-based technology giant uses to legally sidestep state income taxes on some of its gains.

 

[strollingbones]

damn i was gonna report this ad

 

[midcan5]

What an admirable company? Why not just take advantage of American workers, America's educational system, and America's technological infrastructure and pay nothing in taxes - oh wait, they already do that - admirable huh?

http://www.nytimes.com/2012/04/29/b...s-at-low-tax-states-and-nations.html?_r=1&hpw

RENO, Nev. — Apple, the world’s most profitable technology company, doesn’t design iPhones here. It doesn’t run AppleCare customer service from this city. And it doesn’t manufacture MacBooks or iPads anywhere nearby.
The iEconomy

Protecting Profits - Articles in this series are examining challenges posed by increasingly globalized high-tech industries.

Peter DaSilva for The New York Times

"Brian Murphy, center, head of De Anza College in Cupertino, Calif., says the big tech firms are “philosophically antitax, and it’s decimating the state.”"

"Yet, with a handful of employees in a small office here in Reno, Apple has done something central to its corporate strategy: it has avoided millions of dollars in taxes in California and 20 other states.

Apple’s headquarters are in Cupertino, Calif. By putting an office in Reno, just 200 miles away, to collect and invest the company’s profits, Apple sidesteps state income taxes on some of those gains.

California’s corporate tax rate is 8.84 percent. Nevada’s? Zero."

 

[Mr. H.]

Where have I read that before?

 

[Dr Grump]

those evil, slimy greedy bastards!!!You know what their profit margin is??? my god.....

I want an investigation.....do you know that Apple gets tax breaks? yes thats right, just like Oil co's........I want a windfall profits tax , if they earned less per unit leedle po' chillen could afford Ipads....


Apple Profit Surges 94% on Strong iPhone, iPad Sales

Apple Inc.'s fiscal second-quarter profit jumped 94% as the consumer electronics giant reported strong sales of its iPhone and iPad products.

For the quarter ended March 31, Apple reported a profit of $11.62 billion, or $12.30 a share, up from $5.98 billion, or $6.40 a share, a year earlier. Revenue increased 59% to $39.19 billion, with 64% of the top line coming from international sales.

In January, the company projected earnings of about $8.50 a share on revenue of about $32.5 billion, above Wall Street's estimates at the time. Analysts had most recently forecast a per-share profit of $10.04 and revenue of $36.81 billion. Gross margin widened to 47.4% from 41.4%.

more at-
Apple Profit Surges 94% on Strong iPhone, iPad Sales - WSJ.com

I'd just settle for them paying their fair share of taxes like the rest of us...

Letterbox in Luxembourg one way Apple avoids paying billions in worldwide tax

 

[uscitizen]

Never ceased to amaze me how people want something as useful and truly vauable as oil to be cheap as dirt. It gives you an idea of our sense of priorities.

bought any dirt lately? 32 qt bag of Miracle Gro $14.
About $2/gal for dirt so yes many do want gas to be as cheap as dirt, heck didn't a presidential candidate promise it to be that price if they were elected?

 

[Mr. H.]

Smart ass
You know what I mean.

 

[ginscpy]

So why is the stock tanking again??

Had a 1 day upswing after the Grand Slam report that proved the experts wrong.

Now back down to 583.

 

[Mr. H.]

I bet Forrest Gump is making a killing.

 

[Amantine]

I made a lot of money on apple stock, but I spent it all in the apple store

 

[Amantine]

Most of it anyway.