Apple, shining light of free-market capitalismJanuary 25, 2010
You can turn off your irony detectors and your sarcasm lights, kids; this one is for real. I’m not joking. Despite having Algore on the board of directors, and Steve Jobs having some very liberal-leaning ideas, Apple, Inc., is one of the best examples of free-market, good-old-American capitalism you can find right now.
Today the first fiscal quarter 2010 results were announced by Apple. All-time high revenue and profit, with a net quarterly profit of $ 3.38 billion; a 33 percent increase in Mac sales over the same quarter a year before; and a 100 percent increase in iPhone sales over the same quarter a year before!
All this during a recession, folks. All this in a very competitive, low-margin business. International sales accounted for 58 percent of the quarter’s revenue, so Apple is successful worldwide.
They do it, of course, by out-innovating the hell out of everyone. Lots of their products say “Made in China, designed by Apple in California.” They design the best products here, then have them manufactured where it is economically advantageous to do so. They maintain the highest quality standards and always score very high in customer satisfaction. Are they the biggest? No. Is Apple a good investment – sure is. Stock price is at an all-time high, and pays consistent dividends.
Innovative, makes people’s lives better and easier, not frustrating to use, and good customer service. And it’s a good investment. What’s not to like?
Two more days until what Steve Jobs called “a major new product that we’re really excited about.”