After the close, Apple announced earnings of 11 cents a share, which, although way below last year's 44 cents, blew away expectations of a penny. However, based on recent results, we expect we will continue to outperform most of our competitors in whatever market emerges this year. You go, Gerstner. Just ignore criticism from the likes of Jim Grant, who continues to question the company's quality of earnings. For example, Grant notes that in 2000, while IBM's net income grew, its operating income and cash flow from operations both shrank.
Miracles never cease.
A fellow pool-player who works as a buyer for a major department store and I were chatting about the apparel biz. She says Tommy Hilfiger has indeed staged a fashion turnaround and is once again making some clothes that real people actually want to wear. BUT she adds that Tommy's marketing strategy is a nightmare. In other words, Tommy needs more than a fashion makeover. The news at Hewlett-Packard is decidedly not pretty, even given the excuse of a sorry economy.