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February 28, 2012

Apple Valuation, cash and revenue breakdown

Apple ended the day just short of $500 billion. Apple finished at 499.20 billion on Feb 28, 2012. Apple is up to $507 billion in valuation today.

Seekingalpha had a transcript of the January 24, 2012 Apple first quarter earnings call

Apple cash for short-term and long-term marketable securities totaled $97.6 billion at the end of the December quarter compared to $81.6 billion at the end of September quarter, a sequential increase of $16 billion. About $64 billion of the cash was offshore at the end of the December quarter.

We expect revenue to be about $32.5 billion, compared to $24.7 billion in the March quarter last year. We expect gross margin to be about 42%, reflecting approximately $60 million related to stock-based compensation expense.

Apple now likely has about $105 billion in cash. Apple could add about $40-60 billion in cash in 2012. Theoretically, Apple could buy Amazon for cash now. Apple could fairly easily afford to buy Walmart if Apple so desired (excepting the fact that Walmart is mostly held by the Walmart family).

Macrumors has a breakdown of Apple revenues over the last few years.




* iTunes Store generated $1.7b of revenue. 20 million song catalog. iTunes customers "amazingly busy" on Christmas, more than 140 million downloads on December 25
* iPhone represented 124% year-over-year growth vs 40% growth for industry according to IDC.
* Mac App Store a great success, 100 million downloads in the first year
* App Store is "incredible successful" - 550,000 apps total, 170,000 iPad apps.
* $4 billion to developers cumulatively, $700 million in December quarter.
* $6.1 billion for retail, large growth for iPhone, iPad and Mac sales.
* iPhone sales doubled year-over-year thanks to iPhone 4S.

Billboard estimates Apple accounted for a staggering 33% of U.S. recorded-music revenue in 2010, dwarfing second-place Walmart at 10.1% and far exceeding the market share of any previous music retailer.

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