Fred Anderson Billion Quotations

remains very strong, with over $4.3 billion in cash.

We're delivering solid profitability while maintaining lean channel inventories in a weak economic environment, ... Our balance sheet remains very strong, with over $4.2 billion in cash, and we are targeting a slight sequential increase in revenues and earnings per share in the September quarter.

We are also resetting our revenue target for fiscal year 2001 to the $7.5 to $8 billion range and our target for EPS to the $1.10 to $1.25 range.

In light of the lower results anticipated for the December quarter, we now expect revenue for fiscal 2001 to be in the $6 billion to $6.5 billion range,

In light of September's disappointing sales and higher-than-planned ending channel inventories, we are resetting our revenue estimates for the December quarter to about $1.6 billion and are targeting a slight profit,

Strong demand for our professional products combined with superb operational efficiency resulted in very strong earnings. Apple finished the quarter with $3.6 billion in cash and short-term investments.