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http://www.insanely-great.com/news.php?id=780
Apple to Break Even in Q4, Says Apple Europe Chief
By Remy Davison, Insanely Great Mac
August 12th 2002
iMac 17, pricing policy to play key revenue roles in Q4.
Apple expects to break in the fourth quarter, according to a story filed by Reuters.
Pascal Cagni, Apple Europe, Middle East and Africa chief, was interviewed by the
Italian newspaper La Stampa Sunday, said "It would be crazy to expect strong growth at
this moment, therefore we aim to break even in the next quarter."
Cagni also said he anticipated strong sales of the new 17" LCD iMac DVD-R, along with
sales and pricing incentives, would boost Mac sales in Q4.
Apple reported a profit in Q3 of $US32 million, which represented a year-over-year
decline of 48%. In his Q3 conference call prior to MacWorld New York in July, CFO Fred
Anderson blamed the softness of demand in the global market, citing Europe and Japan
in particular as making slower than anticipated economic recoveries.
Nevertheless, Apple''s market share has risen world wide in 2002, not only because of
the HP-Compaq merger. Apple''s US market share has expanded slightly, while it has
also grown in Europe and Japan. In the latter case, both the iMac G4 and iBook were
simultaneously the # 1 selling desktop and notebook PCs, respectively, in Japan.
Analysis: Break even isn''t good for the stock, but markets tend to judge Apple
harshly, even when its steadily profitable in a saturated, low-demand PC market.
But Apple is also a barometer of the market, which gives a window of insight into
patterns of consumer spending and confidence. While other companies batten down the
hatches, cut prices and wait for the storm to pass, Apple still invests a greater
percentage of its income in R&D than any other box maker. That means better,
innovative products for 2003, while PC manufacturers are forced to rely on Intel and
AMD''s incremental speed bumps to push product out the door.
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