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I just wanted to add a quick post on Apple (AAPL). A number of you have asked for Apple’s recent financial numbers, so I’ve added this spreadsheet which contains the quarterly figures going back ten years.

As you can see, Apple’s performance has been staggering. Sales and earnings growth is through the roof. Gross margins are around 35% and operating margins are near 20%. Most impressively, Apple has zero debt and a gigantic cash horde that comes to $27.55 a share.

Given Apple’s closing price on Friday of $82.33, that means that the “nuts of bolts” of the company are worth $54.78 a share, which is roughly 10 times trailing earnings.

Obviously the key factor is future earnings, not trailing. I’ll have more this Wednesday when Apple reports its fiscal Q1 earnings. This will almost certainly be Apple’s first report of lower earnings in over five years. Sales will probably be flat. The first quarter is traditionally Apple’s most important quarter when the company records about one-third of its yearly sales and earnings.

Posted by edelfenbein at January 17, 2009 3:51 PM