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February 15, 2012 02:32 am GMT
Apple CEO Tim Cook took the stage today at the Goldman Sachs Technology & Internet Conference in San Francisco to talk about Apple's unbelievable first quarter, as well as the company's outlook going forward. It's been hard to avoid the headlines: Apple is red hot right now, as MG recently pointed out that Apple's $13.1 billion profits in Q1 was equal to the company's revenues in Q4 2010. One year and one quarter later, and Apple is growing like it's on steroids. Throw in the fact that Apple now has $97.6 billion in cash and equivalents, and the overall picture is fairly jaw-dropping. Or, perhaps what's even more anxiety-producing, at least for Apple's competitors, is that Tim sat their in conversation and literally sounded shocked by his own words -- specifically over how much opportunity he sees for Apple in developing markets. The mobile device market is expected to grow to 1 billion units by 2015, with 25 percent of that share coming from China and Brazil alone. Cook stressed that those two markets in particular have been (and will continue to be) critical for Apple moving forward.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/08JjDih0aHs/
Tim Cook: Sales In China Were $13B Last Year
Apple CEO Tim Cook took the stage today at the Goldman Sachs Technology & Internet Conference in San Francisco to talk about Apple's unbelievable first quarter, as well as the company's outlook going forward. It's been hard to avoid the headlines: Apple is red hot right now, as MG recently pointed out that Apple's $13.1 billion profits in Q1 was equal to the company's revenues in Q4 2010. One year and one quarter later, and Apple is growing like it's on steroids. Throw in the fact that Apple now has $97.6 billion in cash and equivalents, and the overall picture is fairly jaw-dropping. Or, perhaps what's even more anxiety-producing, at least for Apple's competitors, is that Tim sat their in conversation and literally sounded shocked by his own words -- specifically over how much opportunity he sees for Apple in developing markets. The mobile device market is expected to grow to 1 billion units by 2015, with 25 percent of that share coming from China and Brazil alone. Cook stressed that those two markets in particular have been (and will continue to be) critical for Apple moving forward.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/08JjDih0aHs/
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