Apple earns $904 million in profits for Q4 2007

23Oct07

Apple’s earnings for the fourth quarter 2007 rose 66 percent year over year. Apple reported Monday that the company earned a profit of $904 million during the fourth fiscal quarter which ended in September 29. This is up from last year’s $542 million. The company netted over $24 billion in revenue and $3.5 billion in et income for fiscal 2007. 

Apple shipped 2,164,000 Macs, 10,200,000 iPod, and 1,389,000 iPhones. The number of shipped Macs represents a 34 percent growth compared to a year ago. The 2.16 million Macs also represents a rise in Apple’s worldwide PC marketshare to 3.2 percent. Six months ago, Apple’s share was at 2.5 percent. 
The record earnings prompted several analysts to up their price targets on Apple. Examples include Morgan Stanley (from $180 to $195), Goldman Sachs ($190 to $205), and Bear Stearns ($199 to $243). Apple is opened the trading day in the US with a price of $188 (as of writing this, price is between $185 and $186). Apple’s current market value stands at $163 billion, making them worth more than Intel ($156 billion) and IBM ($154 billion). It was just last June that Apple surpassed HP in valuation and analysts were predicting that it would surpass IBM by the end of the year. 
As the Mac’s marketshare continues to grow and the imminent release of Leopard, Steve Jobs said that imporvements to Mac OS X will continue for as long as a decade.
Apple retail returned a revenue of $1.25 billion, up from last year’s $936 million. Apple Stores had 31 million visitors for 2007, or 12,500 visitors per store per week. 
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