Apple COO Tim Cook discusses profits and netbooks

Apple reported very positive earnings today with CFO Peter Oppenheimer reporting fiscal profit of $1.6 billion on revenue of $10.17 billion. Apple also made a positive second quarter outlook. Street analysts expect earnings of $1.13 per share on revenue of $8.20 billion.

Apple is also sitting on hefty and deep $28.1 billion of cash. A sign of a solid company during a very rough time for a bleeding global economy.

Apple also stated that they were not interested in entering the Netbook market, primarily because netbooks aren’t really laptops rather ultra-low powered web & email toys - :)

Apple COO and interim-CEO Tim Cook had some interesting thoughts on the ultra-portable Netbook segment of the market…

When asked about Apple’s thoughts on the new Netbook craze (why?) Tim said: “We’re watching… but right now from our point of view the products in there are principally based on hardware that’s much less powerful than we think the customers wants, software that’s not good, a cramped keyboard, small displays, and so forth. [...] we don’t think people will be pleased with those types of products - but we’ll see.”

Tim is both right and wrong. Netbooks will give more people the ability to connect to the network. That’s good for everyone especially the SaaS market with developers baking on providing applications through the browser and yes, even the browsers of those pesky little 7″ netbooks with those horribly slow Intel Atom processors.

There was no comment on OS X Snow Leopard except for Tim Cook adding ” [...] and we don’t have a specific launch date.”

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