Josh Lowensohn with a look at the numbers that matter in Apple’s huge financials.
Led once again by record sales of new iPhones and holiday sales of iPads and Macs, Apple posted earnings of $18 billion on $74.6 billion in revenue, far above what it forecasted back in October, and marking the highest quarterly profit in its history.
Or, the highest quarterly profits in any company’s history. Has any technology company with revenue and profits that high ever grown– revenue or profits or both– that much in a single quarter?
The big takeaway from the trends is that larger screen iPhones cannibalize iPads. iPads don’t have a typical, expected purchase cycle, iPhone cannibalized most of the iPod business.
Oh, one more thing. The technorati elite, market prognosticators, and industry analysts don’t have any idea what they’re talking about.