Apple-mania will fade at some point. But not yet. The company’s stock was up 2.7% today to close at $601.10 — its highest closing price ever, and up 81.8% over the last 12 months. Much of today’s bump can be attributed to the announcement this morning that the company will spend $45B over the next three years paying dividends and repurchasing its stock. But Wall Street may send Apple shares even higher tomorrow following the company’s announcement, after the closing bell, that it sold 3M of the new iPads on their first weekend on the shelves. That’s “the strongest iPad launch yet,” says SVP of Worldwide Marketing Philip Schiller. Indeed, it’s three times more than the iPad 2 sold in its opening weekend last year. The momentum could continue next weekend as the company introduces the revamped tablet computer to 24 additional countries including Austria, Greece, Italy, Mexico, Poland, Spain, and Sweden. The only hitch for Apple? It’s making a smaller profit on the new iPad: It costs $364.35 to make the new model with 32 GB of memory and 4G connectivity that sells for $729, research firm iSuppli says. The model of the iPad 2 with the same amount of memory and 3G connectivity cost $335 to make.


So does all of this profit mean the people breathing in aluminum dust polishing the over priced shiny toys are finally going to get chairs to sit on during their 5 minute breaks?
I see you’re still believing Mike Daisey’s fraud even now. Gullible.
What do you think Apple is, a charity?
Love how all the analysts gloss over the fact that the 3 million units figure reflects sales of ALL iPads, not just the latest version. With prices reduced dramatically, iPad 2′s were flying off the shelves just as much as the new model. People came into the store, looked at both, found the new screen to not be worth the extra money, and picked up the cheaper model instead. Stores still have plenty iPad 3′s in stock, and resellers on eBay are barely breaking even, compared to last year when one could fetch a 100-150 dollar premium over retail.
Personally, I’m waiting for AT&T to start clearing out their refurb stock, which have gone for as little as 349 for the 64gb model in the past.
So does all the coverage that came out, including the Nightline special make people realize that the original claims to the “inhumane, sweat shop” environments were grossly overblown? And you could clearly see, in the Nightline footage, that the people making iPads were sitting down… in chairs… while they were working.
Sitting is not all that it’s cracked up to be. The new Hollywood rage is standing desks.
NotQuiteRight
Actually the 3 million sold during the weekend are specifically just the new model and do not include the previous ipad 2 version. If you read the press release it makes it clear that it is only the new model they are counting in that three million sold.