October 21, 2008
Big News on Apple Call: Jobs Makes Rare Appearance
He's alive. He sounds vibrant. Very upbeat on iPhone and notebooks. Discussing economy which he says is impossible to predict but company positioning provides some insulation.
Very confusing numbers because of subscription accounting. This could be impacting GAAP guidance based on a revenue per iPhone calculation.
Jobs mentions possibility of using cash on acquisitions. $25 billion cash on hand.
Regarding guidance, Jobs says October is a "foggy" month and "There is a lot of prudence built in."
Jobs strongly implies no stock buybacks.
Jobs on the call is definitely an attempt to send a positive message. Working so far with stock trading up $6. This is the first time he has appeared on a quarterly conference call in 8 years.
Posted by Steve Birenberg at October 21, 2008 04:35 PM in AAPL