Apple and: its shares, China, Sprint, plus Tim Cook and the toaster-fridge meme

Apple shares? They’re back, the day after the company blew past expectations by posting a 94 percent jump in quarterly profit, with iPhones (88 percent sales jump compared with a year ago) and iPads (151 percent rise) continuing to fly off store shelves.

After a couple of weeks of declines, shares of the Cupertino company are up nearly 9 percent to about $608.90 as of this post, helping boost the rest of the stock markets. The Mercury News’ Jeremy Owens reports that at least 14 analysts are increasing their price targets for Apple stock, with one raising his target from $1,001 to $1,011.

Things of note/related follow-ups:

China’s importance: As Pat May of the Mercury News reported, Apple CEO Tim Cook spoke of the company’s “incredible quarter in China,” with $7.9 billion of its $39.2 billion in second-quarter revenue coming from that nation. TheStreet rounds up analysts who say that Apple’s international growth, especially in China, will be key: “When looking at Apple’s overall revenue growth in China, it’s becoming clear that Apple’s emerging market momentum may be the most important component of the revenue story,” Goldman Sachs analyst Bill Shope wrote in a note to clients.

Sprint reported earnings Wednesday, its results helped by its expensive decision to start selling the iPhone last year. The nation’s No. 3 wireless carrier added 263,000 subscribers in the first quarter, compared with Verizon’s 240,000 new mobile-phone subscribers and AT&T’s 7,000, according to the Associated Press. Sprint posted a lower-than-expected loss for the quarter, also helped by higher customer bills. One analyst quoted by Bloomberg notes that rising data prices helped the bottom line of Verizon and AT&T also. Sprint shares are up less than 1 percent to about $2.50 as of this post.

The toaster fridge: Some of Cook’s comments during Tuesday’s conference call have become a meme. When asked indirectly about Microsoft’s upcoming Windows 8, which aims to marry the tablet and the PC, Cook said: “You can converge a toaster and a refrigerator, but those things are probably not going to be pleasing to the user.” Behold @FridgeToaster, a Twitter account born yesterday. Sample tweet response: “You probably want a blanket with sleeves, too. No pleasing some people!” There’s also the Fridge Toasters Tumblr, whose aim is “celebrating terrible ideas from the annals of technology.”

Todd Bishop of GeekWire points out that in 2004, former Apple CEO Steve Jobs also reportedly referred to toasting and refrigeration — when asked about the possibility of a video-playing iPod.

 

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  • Jeff

    How is a tablet and PC so different again? Other than a tablet having a horrible interface to type on and less power, they’re basically going to be used for the same things on a per user basis. Cook’s comments, and subsequent Apple sheep tweets make no sense.

 
 
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