Apple had $34.1 billion cash end of September or $38/share. That’s up from $31b and $34/share last quarter. Anyone could have forecast this cash (it was $32/share beginning of this year). Back in March when the stock traded at $78 or 2x cash Apple was being valued at $40 in forward earnings or 6x TTM [...]
Peter Oppenheimer, Apple’s Chief Financial Officer, said that the Average Selling Price of iPhones in the quarter “was just over $600. This reflects both high mix of 3GS sellthrough and benefits of rebalancing the ending channel inventory toward the 3GS.” An astonishing admission from Apple who has never revealed their iPhone ASP. Previous analyst estimates [...]
