Apple CFO Fred Anderson Says Apple Is Going For Market Share, Intermediate Goal Of 5%

February 25th, 2003 at 2:00 PM - Apple Stock Watch by Bryan Chaffin

The man has spoken. Fred Anderson, Appleis financial shepherd, has said that Apple is working to grow market share. The comments came during the Goldman Sachs Technology Investment Symposium being held this week in La Quinta, CA. The event is being attended by a whois who of tech execs, including Apple CFO Fred Anderson. Other tidbits from his speech included a promise of "more and more software" from Apple, and a target of US$8 billion in yearly revenue. From a very short report from the Dow Jones Business Wire:

Apple Computer, Inc. Chief Financial Officer Fred Anderson said the companyis aim is to expand its share of the computer market. Speaking at the Goldman Sachs Technology Symposium, Anderson said a "good intermediate" goal would be to reach 5% market share from 3% today.

He also said the computer makeris target is to get to $8 billion of annual revenue. Apple had revenue of about US$5.7 billion in 2002. Users of Macintosh machines from Apple also are "going to see more and more software coming out of Apple," Mr. Anderson said.

These comments come as Apple has slashed prices on its professional PowerMac and PowerBook product lines, as well as reducing prices less substantially on the iMac, eMac, and iBook lines (see links for more information on each announcement). The iPod, the target of revision rumors during recent weeks, has remained at the current price since the current product line was introduced last summer.