Egypt partners with Google to promote 'unmatched diversity' tourism campaign    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Taiwan GDP surges on tech demand    World Bank: Global commodity prices to fall 17% by '26    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Apple faces Jobs questions, even as sales set to soar
Apple experienced a 50 per cent jump in quarterly sales due to an increase in demand for iPhone and iPad, but Steve Jobs medical leave could affect the corporation
Reuters Published in Ahram Online on 18 - 01 - 2011

Apple Inc is set to report a stunning 50 per cent jump in quarterly sales on Tuesday, as its iPhone and iPad excited holiday shoppers, but the consumer electronics powerhouse may face more pressing questions about the health of iconic chief executive Steve Jobs.
The world's most valuable technology company announced on Monday that Jobs would take a medical leave of absence without specifying a return date or detailing Jobs' condition, leaving investors in an information vacuum.
The surprise announcement -- made on a U.S. market holiday -- dragged Apple shares down more than 6 per cent in European trading. They are up 62 per cent in the past 12 months on the Nasdaq stock exchange.
"Steve Jobs is seen by the market to be a major force in Apple's strategic direction," said Richard Windsor, global technology specialist at Nomura. "If his pancreatic cancer has returned, one could be quite worried."
Jobs' latest leave comes nearly two years after he took a six-month break to undergo a liver transplant. He also took time off after pancreatic surgery in 2004.
Apple has not dwelt on Jobs' health, and Jobs himself asked for respect for his privacy in a memo to employees made public on Monday.
In Jobs' absence, it will be up to chief operating officer Tim Cook to decide how much to tell investors about the absent chief executive, and what Apple plans to do with its $50 billion-plus pile of cash and investments.
Less of a showman than Jobs, the 50-year old Alabama native is not expected to make any grand pronouncements. But he is regarded as a safe pair of hands for the company, having stood in for Jobs successfully twice before.
In Asia, tech shares gained, helped by hopes of a recovery in chip prices and expectations that nimble firms may slow the runaway success of Apple after the news that Jobs would take medical leave.
Still, analysts said the impact on Apple's operations and its Asian rivals and partners should be limited in the short-term given a strong product line-up.
"Apple's roadmap is all set and its iPhone 5 is ready to go, leaving little room for competitors to cut into its share," said Bonnie Chang, an analyst at Yuanta Securities in Taipei.
HUGE HOLIDAY SEASON
Aside from Jobs' health, the company is entering 2011 on a roll, a cash-generating machine with surging sales across its product lines, even as it confronts rivals determined to halt its stunning run of success.
Wall Street is expecting Apple's quarterly revenue to swell more than 50 per cent to more than $24 billion after a bumper holiday shopping season. That would be a sparkling performance for a company of any size, much less one with a market value above $300 billion.
Apple's advantages are well-documented: the global spread of the iPhone, which is expected to sell more than 60 million units this year; the rise of the iPad, which single-handedly created the tablet computing market; and continued strong growth from the resurgent Mac line of computers.
Wall Street's benchmarks for Apple's fiscal first quarter, which includes the holiday shopping season, are sales of roughly 15.5 million iPhones, 5.5 million iPads and 4 million Mac computers.
Apple, which has a market value of just over $300 billion, is expected to report earnings of $5.40 a share on revenue of $24.4 billion, according to Thomson Reuters.
According to StarMine's SmartEstimate, which places more weight on recent forecasts by top-rated analysts, Apple should post EPS of $5.47 on revenue of $24.5 billion.
Even so, an out-sized surprise in Apple results has become an article of faith among investors. The company has beaten Wall Street's estimate by an average of 29 per cent over the past two years, and bested on revenue by 9 percent on average.
"The only surprise in earnings is if there is anything less than glorious news," said Barry Jaruzelski, a partner at consulting firm Booz & Co, last week.

Clic here to read the story from its source.