Apple’s First Quarter Results: 4.4 billion minus 8 million

No company ever wants to lose money but Apples financial results for its fiscal 2003
first quarter need to be put in perspective. Forget about the 8 million lost and think about what Fred Anderson, Apple’s CFO had to say, “Continued strong asset management enabled us to increase cash to over $4.4 billion.” $4.4 billion is quite a bit of money the last time I checked.

Apple’s strong cash position will bode it well through the current recession, allowing it to innovate through the recession rather than cut back. Other good news? Apple shipped 743 thousand Macs during the quarter. Still, as I’ve said before on AppleMatters, Apple needs to look beyond the Macintosh for sources of revenue. The iPod is the beginning, lets see what comes next.