Apple still bullish amidst a lagging economy

At the Salomon Smith Barney Tech2001 Conference today, Apple CFO Fred Anderson said the company is on track with its earnings estimate for this quarter. Anderson also called Apple a “cash machine,” noting that its cash reserves have grown by US$200 million during 2001 to more than $4.2 billion. Anderson also reaffirmed that Apple’s retail stores will be profitable next year, and should be breaking even by the end of December.

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