Financial Results: 2nd Quarter 2009: Apple
So, add another billion to Apple's cash on hand - which is starting to approach 40 billion.
When Tim Cook (Acting Apple CEO in Jobs' temporary leave) was asked about Netbooks and Apple's plan for the market, he replied thusly;
“For us, it’s about doing great products. And when I look at what is being sold in the netbook space today, I see cramped keyboards, terrible software, junky hardware, very small screens, and just not a consumer experience… that we would put the Mac brand on, quite frankly. And so it’s not a space, as it exists today, that we’re interested in, nor do we believe that customers in the long term would be interested in.”
He also essentially stated that HP and Acer (who are selling a heckuva lot of "netbooks") are doing just that - just selling them. The units carry a 3% average profit margin - this is WITHOUT marketing and WITHOUT distribution costs factored in. They are also shipping with Windows XP - an operating system whose support is limited and will soon be discontinued by Microsoft.
He continued that he doesn't see long term satisfaction with netbooks - but that Apple had a terrific pipeline of products that will address the market.
Apple gave impressive results for any quarter - but considering the economic climate - the results were spectacular.