The Macintosh News Network reports: Apple posts net loss of $45M after charges. The picture is pretty much what Intel's numbers earlier this week suggested, that the recovery is still a long way off. Having written down some $52 million in poorly performing investments (they used to be called losses due to bad investment), the company lost $45 million, or $0.13 a share.
Year-over-year revenues were flat and the actual number of units sold was down by 14 percent, which means that Apple improved its margins -- a ray of sunshine, not unlike today's IBM results, which were bouyed by cost-cutting, as well.
Jaguar, the OS X upgrade, is supposedly headed to five million users by year end, which is a very strong performance. But with the year ahead looking gloomy, I'd not be expecting any significant gains in this stock in the short term. At 14.56 a share today, however, I'd consider dollar-cost averaging into Apple over the long term, since it is clearly making advances with user satisfaction and cool products.
Posted by Mitch Ratcliffe at October 16, 2002 02:36 PM | TrackBack