Welcome to the August issue of About This Particular Macintosh! We’re celebrating the long days of summer and the lazy hours spent reading electronic books and listening to digital music. It’s a time of year we rediscover some of the more eclectic elements of our iTunes libraries. This is the music that doesn’t make it to our primary playlists but has been purchased over the years as reminders of a bygone era or brings back memories of special times with friends and family.
In this month’s Welcome we’re taking a look at Apple and the state of the company’s product economy through the song titles of the late Roger Miller, a popular artist of the 1960s with classic songs that continue to find airplay and storage space on the iPods of those who lived through the times.
You Can’t Roller Skate in a Buffalo Herd
If there’s one lesson being learned by makers of smartphone products competing with the Apple iPhone, it’s that there’s no easy skating in the midst of a stampede. In the three-month period ending in late June, Apple sold 20.338 million iPhones, representing year-over-year unit sales growth of 142% and revenue growth for the product line of 150%. There isn’t a single smartphone that will match the iPhone 4’s success except the iPhone 5 that’s expected to debut sometime in the next six weeks.
This may have been a common expression among Wall Street analysts and researchers after Apple reported June quarter revenue of $28.571 billion and earnings per share (eps) of $7.79. Analysts had expected on average earnings of $5.83 per share. The 33.62% upside surprise sparked revisions to analysts’ estimates for Apple’s next fiscal year beginning in late September. The new consensus estimate from the analysts suggests eps of $32.05 next fiscal year. That consensus may be less than 10% higher than Apple’s eventual eps outcome this fiscal year. The analysts have yet to factor Apple’s recent rates of growth into their estimates. Consequently there should be no surprises when Apple delivers even more earnings surprises over the next five quarters.
Perhaps there’s no better response to those who considered us crazy just a decade ago for purchasing Apple products. Long-time readers of ATPM may remember our coverage of Apple in the years immediately preceding the return of Steve Jobs. In late 1996, there was a joke the company that would be formed following the expected purchase of Apple by Sun Microsystems would be called Snapple. Ironically, it was Oracle that snapped up what was left of Sun Microsystems years after the so-called tech bubble went bust at the turn of the century. This fall marks the 10th anniversary of the release of the original iPod and the beginning of Apple’s 21st Century renaissance.
King of the Road
In the first six months of calendar year 2011, Apple sold more than 60 million iOS-based devices including iPhones, iPads, and the popular iPod touch. During those six months, Apple also sold more than 5.5 million Macintosh portable PCs. Apple is the world’s largest mobile device maker measured by revenue. The company’s portable products are the choice of millions of road warriors the world over. There’s much more to come in product sales growth in the months ahead. Apple’s newest iOS-based device, the iPad, remains in a nascent phase of the product’s global market development, and only recently did supply of the Apple iPad 2 catch up with demand.
Little Green Apples
What was started in a Silicon Valley suburban garage by two college drop-outs both named Steve has become a global enterprise that will reach $115 billion in revenue in the company’s current fiscal year. Apple now has over $76 billion in cash and marketable securities on its balance sheet, an expanding global network of retail stores, and is among the most highly respected enterprises on the planet. Still, there are those who question the company’s prospects for continuing success. For those naysayers we will close this month’s Welcome with a few lines from one of Roger Miller’s biggest hits:
God didn’t make little green apples, and it don’t rain in Indianapolis in the summer time. And there’s no such thing as Dr. Seuss or Disneyland and Mother Goose, no nursery rhymes.
In late July, Apple set a new all-time high of $404.50 per share, and at press time the company’s market capitalization was at $362 billion. We’ll see you on the flip side of $500 per share by next August. Roger Miller’s music, including his legendary rendition of “Little Green Apples” is available on iTunes. Send a gift card for a copy to all those who ever questioned why you chose to “Think Different” and purchased Apple products.
What songs have you purchased through iTunes just because the music makes you laugh or smile? Write to us at firstname.lastname@example.org.
Our August issue includes:
A monthly summary of Wes Meltzer’s blogosphere news, originating from his Pinboard feed. This month: The King of the Jungle, iPhone From iCloud Nine, Elvis Never Sang a Song About Patent-Leather Shoes, and Other Devices You Overlooked.
Mark Tennent muses the loss of Rosetta.
Examining the relationship between Apple and Samsung.
The Great Room Reshuffle of 2011 is underway in the Turner household, and Mac users have a new operating system to move to as well.
Sylvester Roque shares his thoughts on eliminating (or at least minimizing) trouble when upgrading to Mac OS X 10.7.
Julie Ritterskamp shares photos from Cherokee and Whittier, North Carolina.
Matt Johnson’s new series, Out at Five, looks at the workplace and its boundaries from all angles, revolving around many of the same characters from his former series, Cortland.
David Ozab is pleased with this utility that encourages him to focus on his stream of consciousness in writing instead of the habit of constant editing while writing.
If you’re looking for a versatile sleeve case for your MacBook Air, WaterField Designs has your bag, baby.
Eric Blair likes the idea of this app to feed his appetite for baseball information, but feels it falls short in some areas.
Runner’s high meets low marks.