Apple blows me out of the water

I've been saying how I don't see a big, bright future for Apple (AAPL) for quite a while now. Their earnings last night pretty much blew my theories out of the water. Honestly, I am very surprised. A few years ago no one had iPods and everyone wanted them. Today, everyone has one that wants one, or so I thought.

I thought that the iPhone would not sell as many units as projected and would be a disappointment, I guess I was wrong on that count as well - though the huge price cut very likely was what screwed me over on this call.

I stand by my position that AAPL is going to go down at some point, but just maybe Steve Jobs can keep pulling nifty little design tricks out of his bag and keep the customers fooled and the stock price high. Once Steve goes, forget it, Apple is as good as bankrupt.

But I have to hand it to (Real) Steve Jobs... Well played.

Update - Some articles from Valleywag on the Apple quarter:

• How well is the iPhone really selling?
• How many iPhones were sold with the intent to be bricked unlocked?

And unrelated, Wozniak on homeless cats... Poor kitties!

Even More on Apple

Apparently NY Magazine shares some of my reservations about Apple and Steve Jobs. And Wired. Theirs is not so much about the company but also the whole iPhone repricing thing. And another one at Wired. Jobs is worth $4.9 billion so what does he care? Here is his interview on the subject...

Excerpt:

Q: Many people already have Beatles music on CDs. Will they really buy it online if they already own it?

A: I do expect them to, yes. That's been the case with other music, as well.

I own every Bob Dylan album ever, but I buy a lot of it on iTunes, because I guess I'm just too lazy to rip it from the CD.

Or maybe that's because the $9.99 for the album doesn't really matter much when you have $4.9 billion of them. It does for those of us who don't have billions.

Update - Apparently Apple agrees with everyone's complaining about the iPhone price cut. "We want to do the right thing for our valued iPhone customers," Jobs said. "We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple."

I still don't think Apple is in a good place. And I don't think Jobs feels at all apologetic about this whole thing. He's probably trying to count how many of his billions of dollars are going to be spent refunding the customers.