Apple (AAPL) is all over the financial news tonight after publishing their first quarter results that lifted the stock 8% to $454.10. Reuters says Apple is now the largest market cap in the US at $425B and Apple alone could add about four points to the entire S&P 500 tomorrow! Even more amazing is the P/E ratio which the WSJ says is between 8-10 depending on the perspective!
In a press release today, Apple announced the “Highest Quarterly Revenue and Earnings Ever” in their first quarter results that “could have been even higher if the company had been able to manufacture enough iPhones to meet demand”. Apple also mentioned $17.5 billion in cash flow from operations which brings their total cash hoard to $97.6 billion, and according to the WSJ, that alone is higher than the market caps of 95% the S&P 500!
What really caught my attention today was a blog post from ComputerWorld where based on Apple’s numbers today, CW deduced that “Apple sold more iPad tablets last quarter than any single PC maker sold personal computers”! Now THAT is really amazing! IT managers and security professionals take notice.