Enormous Consequences is a daily look at the most impactful games in the NBA’s playoff races.

There is not a lot of time left in the NBA season, which means that nearly every loss for a team not already eliminated from postseason contention is going to have some sort of enormous consequences.

Whether said consequences come in the form of momentum, seeding or eliminating a contender from playoff contention altogether depends on the game one decides to watch, but Wednesday night’s slate featuring 28 (TWENTY-EIGHT!) teams should be quite exciting for those doing some good ol’ fashioned scoreboard watching.

As has become customary, let’s begin this column by looking at the forever-muddied Western Conference playoff picture from the bottom up. The Utah Jazz, Houston Rockets, Phoenix Suns, Dallas Mavericks and Denver Nuggets are fighting for the final three berths available in the West and, technically, the Memphis Grizzlies could be lumped in there as well, as they haven’t mathematically clinched a spot in the postseason as of yet.

The Utah Jazz will continue fighting for their playoff lives when they travel to Oregon for a game against the already-eliminated Portland Trail Blazers (10 p.m., NBA League Pass). The Jazz showed quite a bit of heart in their triple-overtime victory earlier this week, but as the current No. 10 seed, they’ll need to keep that momentum in order to find themselves playing professional basketball next month.

Sitting just one-half game ahead of the Jazz in the playoff standings are the Houston Rockets, as they find themselves on the wrong side of a tiebreaker with the Phoenix Suns for the eighth and final seed in the Western Conference. Houston could make a big move on Wednesday night, however, if they’re able to upend the No. 7 Dallas Mavericks (9 p.m., NBA League Pass) in a battle of teams still trying to solidify their playoff positioning.

Speaking of Phoenix, they might have the toughest row to hoe on Wednesday night when they host Kevin Durant and the Oklahoma City Thunder (10 p.m., NBA League Pass). The Suns are currently in the driver’s seat of sorts as the No. 8 seed in a conference that has eight playoff berths to hand out, but a loss to the No. 2 team in the conference combined with victories by the Rockets and Jazz would drop the Suns to tenth place in the standings.

The sixth-seeded Denver Nuggets weren’t done any favors by the schedule-makers late in the season, either, as they have to play the Los Angeles Clippers on Wednesday night (9 p.m., NBA League Pass). Denver’s spot in the playoffs isn’t quite as contentious as the teams already looked at in this column, but three of their final five games include meetings with tough teams; the Clippers, Orlando Magic and Thunder — all playoff teams — and their upcoming game in Phoenix on Saturday night could have interesting playoff implications as well.

Memphis is the final team in the West that has neither been mathematically eliminated or confirmed to be in the playoffs, but they’re much closer to catching the Clippers for the fourth seed in the conference — thereby giving them homecourt advantage in the first round — then they are to falling into the rest of the pack mentioned above. Nonetheless, a loss to the New Orleans Hornets on Wednesday night (8 p.m., NBA League Pass) would not help anyone involved.

The other side of the bracket isn’t nearly as convoluted considering only three teams are in the middle of the pack that isn’t quite eliminated or safe when it comes to the postseason. only the New York Knicks, Philadelphia 76ers and Milwaukee Bucks are the three teams still playing for playoff hopes.

The Bucks are the team on the outside looking in for the time being, but they actually control their own destiny. If Milwaukee is able to win out beginning with Wednesday evening’s game against the Washington Wizards (7 p.m., NBA League Pass), the Bucks will effectively eliminate Philly from playoff contention — the two teams will meet next Wednesday with a lot potentially on the line.

The Sixers aren’t likely to have much trouble with their opponents on Wednesday night when they play the Cleveland Cavaliers (7 p.m., NBA League Pass) in an attempt to stay 1.5 games in front of the Bucks for the final playoff spot in the East. The Cavs are coming off of a 116-77 loss to the Detroit Pistons, a terrible defeat when considering Detroit is 15 games below .500 on the season … and possibly good news for the Sixers, provided the Cavs are unable to bounce back.

Last, but not least, are the beloved Knickerbockers. New York will take a short trip to play the New Jersey Nets on Wednesday night (7:30 p.m., NBA League Pass) in an effort to stay ahead of the pack. this would likely be the toughest matchup of the three still-contending teams in the East … if Deron Williams weren’t already ruled out.

Good Games Without Enormous Consequences

The Orlando Magic and Boston Celtics will meet again on Wednesday evening (8 p.m., ESPN) in what could easily be a first round playoff preview. The Magic actually have a better record, by the way, but the Celtics would have homecourt advantage due to their status as division winners — unless New York overtakes them, of course.

Spoiler Alerts

CHICAGO BULLS at Charlotte Hornets, Detroit Pistons at ATLANTA HAWKS, Toronto Raptors at MIAMI HEAT, SAN ANTONIO SPURS at Sacramento Kings, LOS ANGELES LAKERS at Golden State Warriors

Enormous Consequences: Utah Jazz, Houston Rockets Hoping To Make Moves

Apple has dipped down almost 10% over the past several trading days. Investors should view this as an opportunity to buy a strong growth stock at a discount, and not consider day-to-day unexplained stock movements as a sign of weakness in the underlying company. Apple has momentum on financial, product and market metrics;  the current price drop makes it all that much more attractive.

Apple has revenue momentum. Historically, the first fiscal quarter of every year has set the bar for revenues for the year. Expect the second quarter revenues to be reported next week to be down due to the typical seasonality in the company. it makes sense as Apple’s first fiscal quarter includes the Christmas holiday buying season, and Apple’s second fiscal quarter is the lull of January to March. that said, the revenues in the third and fourth fiscal quarters have historically exceeded the “blow out” first fiscal quarters for Apple, in non-recessionary years. what this is saying is that each year, Apple comes out strong with a great first fiscal quarter with what feels like “blow out” revenues yet they are exceeded as the year moves on. Apple reported $46.3B in revenues in FY12 Q1, up 64% from its next highest quarter of revenues, $28.3B in FY11 Q4.Apple has gross margin momentum. Since 2006, Apple’s lowest gross margin quarter has been the first fiscal quarter of the year. In FY12 Q1, gross margin was 44.7% on the strength of the iPhone. I expect gross margin momentum to continue because Apple has introduced significant upgrades of its most successful products to date, the iPhone and the iPad, without changing the form factor. what has changed with these products is the software, enabling Apple to benefit from the manufacturing efficiencies over the life of the form factor while earning more revenue on the product upgrades. This leads to, again, a higher bar for gross margin going forward. gross margin in this last quarter was 300 bps higher than ever before, and I would expect Apple to continue at these higher levels, until new form factors are introduced.

Apple continues to have unrivaled product success. Amazon Kindle Fire, the newest competition, has failed to dent the Apple iPad allure. to date, Samsung remains Apple’s most formidable competitor, and the two companies are locked up in legal battles around the world on grounds that Samsung copied Apple’s design (Samsung countered with patent suits). the phones and tablets of the two companies look and act very similar; clearly, Apple created the market with the winning design and functionality. and, Apple is expected to come out with an iPhone5 this summer, and is rumored to have a iPad mini and Apple tv on the horizon. There is nothing on the horizon today to suggest that Apple’s winning product line will be challenged.

Apple continues to have a very attractive valuation, more attractive today even than last week. Excluding cash, Apple is trading at 9.4x FY13 earnings estimates of $50.64. This is an incredibly attractive valuation for a company that is growing in excess of 50% for the past two fiscal years and last fiscal quarter. and, please note that over the past six months, the earnings estimates for FY13 have gone up by 56%. On October 4, 2011, the FY13 estimate was $32.74 and today it is $50.64. moreover, some analysts were pegging the price target of Apple to be over $1,000 last week when it was trading at $640. Isn’t more attractive now at $580?

Look at Apple’s previous 10% dips, even in the past year, in May, July, September and October. In each case, the stock rebounded within 6 weeks. Long-term investors should take this as an opportunity to buy and hold. Cost average in on the way down, and look back a year from now at the appreciation.

Apple at $580: Christmas in April

the LSU men’s tennis team lost its third straight match Sunday, falling, 4-3, to No. 4 Georgia.

the No. 26-ranked Tigers’ longest losing streak of the year comes at an inconvenient time of the season as LSU heads into the home stretch of its Southeastern Conference schedule.

“It’s just a matter of numbers. if we get one more point we win, and we’ve had a few of those go our way this year,” said LSU men’s coach Jeff Brown. “We’ve had a few tough ones this week.”

the Tigers lost March 19 to No. 2 Ohio State, 6-1, and fell on Friday at No. 24 Tennessee, 4-3.

the Tigers had a chance to win the doubles point, but the Bulldogs jumped out to an early lead, winning the point.

the Bulldogs’ No. 31 duo Ignacio Taboada and Hernus Pieters handily won, 8-3, against the Tigers’ No. 51-ranked junior Olivier Borsos and freshman Chris Simpson.

the Tigers were up a break on both courts one and two, but the Bulldogs broke back, taking both matches to sweep doubles.

the Bulldogs carried momentum into singles, winning two quick matches to push the lead to 3-0.

but the Tigers clawed their way back, with No. 85 senior Neal Skupski and No. 71 Borsos notching straight set victories to tighten the score at 3-2.

Borsos’s upset victory over Georgia’s No. 8 Wil Spencer ended a three-match losing streak and gained Spencer his second victory against a top-15 opponent this season.

on court six, senior David Roberts, in a rare singles start, battled against No. 70 Pieters, pushing the match to a decisive third set.

but with a late break, Pieters sealed the match, 6-2, 5-7, 6-3, clinching the win for the Bulldogs.

“You can’t say enough about Dave Roberts coming in against a guy who’s been ranked in the top 50 in singles, getting him to a third set and pushing him to the limit,” Brown said.

Brown said despite the loss, the team can take confidence away from today’s matchup.

“We beat the No. 4 team in the nation at [courts] one, two and three,” Brown said. “That’s got to bode well for us as we go forward. I don’t see us losing that many matches if we get that same effort from the top.”

Ending the current losing streak could prove difficult for the Tigers, with road matches against No. 12 Mississippi State and No. 14 Mississippi looming at the end of this week.

“Losing a match like this, you have to be sad, but you have to see the positive side of it,” Borsos said. “We are going to beat Ole miss and Mississippi State because we have to get them back for when they beat us here [last year] and were celebrating.”

the LSU women’s tennis team also struggled Sunday, losing, 6-1, at No. 7 Georgia.

the No. 49 Lady Tigers upset No. 12 Tennessee at home on Friday but were unable to duplicate that result against the Bulldogs.

“We played well today. Georgia is just a really good team,” LSU women’s coach Tony Minnis said. “We had a good week overall, though, so now we just need to get ready for next weekend.”

Against Tennesseee on Friday, the Lady Tigers’ Whitney Wolf upset Tennessee’s No. 37 Caitlyn Williams to give LSU the victory, but Wolf failed to upset another ranked opponents on Sunday, falling, 6-2, 7-5, to Georgia’s No. 8 Chelsey Gullickson.

Olivia Howlett picked up the Lady Tigers’ only point, winning, 3-6, 6-3, 1-0 (10-7), for her fourth straight singles victory and second straight ranked upset.

the Lady Tigers will be back in action Friday with a home matchup against Mississippi State.

Contact Spencer Hutchinson at shutchinson@lsureveille.com.

Tennis: Men’s losing streak continues against No. 4 Georgia

Things are going quite well these days up in Olean, N.Y., the home of St. Bonaventure.

The weather has been hovering in the 60s around the 2,000-student Franciscan Catholic private university located about 75 miles south of Buffalo. St. Bonaventure’s men’s team is making a rare NCAA tournament appearance, the women are making their first and the local boys high school team is in the Final four.

ESPN, the Wall Street Journal, the Associated Press … seems everyone’s talking or typing about the Bonnies these days.

“It’s a pretty good life right now up here,” St. Bonaventure women’s coach Jim Crowley said. “The mood is really good. It’s an exciting time. We’ve had a very, very special season and we want to keep going.”

To do that, fifth-seeded St. Bonaventure (29-3) will have to get past 12th-seeded FGCU (29-2) in Sunday’s 2:30 p.m. NCAA first-rounder in Tallahassee’s Tucker Center.

The Bonnies, ranked no. 21 in the AP poll, are riding a wave of momentum. Crowley, in his 12th season, is ESPN’s national coach of the year, and his team, which was picked to finish sixth in the Atlantic 10, won the regular-season conference title with a 14-0 record. the 29 wins are easily the most-ever at St. Bonaventure, and the second-place finish in the conference tournament also was a first for the program.

“Certainly it’s been a year of firsts for us, and there’s been a lot of excitement about what we’ve done so far this year,” Crowley said.

The about-face is remarkable. Unlike FGCU, which won from the get-go and is 261-48 through this 10th season under program-building coach Karl Smesko, St. Bonaventure’s only history until lately was one of futility.

Since becoming a Division I program in 1986, the Bonnies are 219-339. Prior to this year, they had but four winning seasons, the best being 16-12. Crowley’s seat was awfully hot before he led St. Bonaventure to at least 20 wins and three WNIT appearances the previous three seasons.

“I’ve seen some rough times here with this program,” he said.

The Bonnies feature two senior all-conference players in 5-foot-8 point guard Jessica Jenkins (14.3 points per game, 103 3-point makes with a 39.8 percentage) and 6-1 forward Megan Van Tatenhove (13.4 points, 6.0 rebounds per game), as well as an offense that has poured in 202 3-pointers. St. Bonaventure leads the nation with just 11.9 turnovers a game and with has an aggravating defense that allows just 53.1 points per game (20th nationally).

“These guys have just taken this program on their backs and taken it to another level,” Crowley said.

But in doing so, they’ve followed Crowley’s lead.

“I think we’re kind of a throwback,” he said. “Hopefully we’re going to take good care of the ball and hopefully we’re going to take good shots. And hopefully we’re going to play good defense. this group has been around for a number of years. We’re not going to do anything flashy. We’re not going to win the layup line, but we try to play pretty good basketball.”

Like FGCU, St. Bonaventure starts three seniors, a junior and sophomore. Although this is new territory, the Bonnies enter the NCAA tournament with plenty of experience — and humility.

“Our kids have kept their feet on the ground very well,” Crowley said.

Part of the reason for that could be that those who have watched the program for years keep waiting for the Bonnies to fall flat, especially since they lost 56-53 to Dayton in the Atlantic 10 final on March 5. So St. Bonaventure will head into Sunday’s game with a bit of a chip on its shoulder.

“I think we always have that, and I love that,” Crowley said. “We should. Nationally, people don’t know. We’ve made some more people notice, but I think people are still waiting for us to trip over ourselves — ‘We’ll see, we’ll see.’ We’ve heard that the last two months, and our last outing wasn’t as positive as we were capable of.

“But I know this group of competitors well enough to know they can’t wait to play again.”

Women’s basketball: St. Bonaventure living the good life as FGCU awaits

NEW YORK (CNNMoney) — it hurts to be the only national carrier that doesn’t sell the iPhone.

T-Mobile lost 706,000 customers under contract during the last three months of 2011, the struggling carrier announced Thursday. it was the only national carrier to lose customers last quarter.

The nation’s fourth-largest wireless company had been shedding contracted customers all through 2011, but the departure rate slowed over the course of the year.

Then Sprint (S, Fortune 500) became the third U.S. carrier to sell the iPhone, and Apple (AAPL, Fortune 500) launched the iPhone 4S — the fastest-selling mobile device in history. Missing out on that giant wave killed any momentum T-Mobile might have had.

"not carrying the iPhone led to a significant increase in contract deactivations in the fourth quarter of 2011," Philipp Humm, CEO of T-Mobile USA, said in a written statement.

The company has repeatedly said it wants to carry the iPhone and has tried to work with Apple to bring the device to its network. The issue, executives say, has to do with the spectrum band T-Mobile’s network operates in. The iPhone’s chipset does not support that band.

There’s a potential fix: Chipsets that operate on multiple bands are becoming common in smartphones. however, many analysts say that it’s not worth putting more expensive chipsets in the iPhone to serve T-Mobile’s relatively puny subscriber base. T-Mobile has 25 million customers under contract, compared with the 87 million customers held by Verizon, the nation’s biggest wireless carrier.

Without a clear path to getting the iPhone anytime soon, T-Mobile is instead focusing on catching up to its larger rivals in another area: 4G.

Verizon (VZ, Fortune 500) and AT&T (T, Fortune 500) have made significant progress in rolling out their next-generation network technology, called Long Term Evolution. Sprint plans to do the same beginning next year. but until now, T-Mobile had not announced any plans to launch an LTE network.

Instead, T-Mobile upgraded its 3G network and labeled it "4G."

On Thursday, the company said that it plans to use the $1 billion worth of spectrum and $3 billion in cash it received from AT&T as part of their merger agreement break-up to build an LTE network. The build-out will start in 2013.

It’s potentially good news for T-Mobile customers, who would benefit from faster speeds. but the announcement comes with a giant list of caveats.

To build an LTE network, T-Mobile will need to repurpose what little wireless spectrum it has left from 2G services to 4G. That means enough 2G customers will have to upgrade their devices to 3G to give T-Mobile a sufficient swath of freed-up airwaves to launch 4G services.

T-Mobile also said that it will have to go out and purchase more spectrum to build out a "broader, deeper" LTE network.

And here’s the ultimate caveat: Though Apple is widely expected to launch an LTE-capable iPhone in 2012, it may still not be compatible with T-Mobile’s upgraded network. T-Mobile’s LTE network will transmit signal in the same frequency band that its 2G and 3G networks do today — the same bands that Apple doesn’t think are worth its while to support. 

First Published: February 23, 2012: 11:17 AM ET

No iPhone leads 700,000 customers to flee T-Mobile

After a strong close to last week–the Dow jumped by more than 150 points in the last two sessions–U.S. stock markets will have to wait until Tuesday to try to continue the positive momentum. Major exchanges are closed on Monday in observance of President’s Day, which this year falls two days before the anniversary of George Washington’s birthday. In a tribute to our first president, below we examine five ETFs that may have been appealing to the founding father [for more ETF ideas, sign up for the free ETFdb newsletter]: 

PowerShares DB USD Index Bullish (UUP)

This ETF offers exposure to the U.S. dollar, allowing investors to bet on an increase in the greenback relative to a basket of developed market currencies. UUP is linked to an index comprised of USDX futures contracts, meaning that UUP essentially is a bet against the euro, yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Given the dollar’s safe haven appeal, this ETF generally performs well in turbulent environments.

Though UUP offers exposure to a basket of securities, the underlying index is dominated by the euro. PowerShares also offers the DB 3x Long U.S. Dollar Futures ETN (UUPT), which delivers amplified exposure to the same basket of currencies.

PowerShares Build America Bond ETF (BAB)

BAB is one of three Build America Bond ETFs, offering exposure to a type of fixed income security that was introduced as part of the effort to accelerate the recovery in the wake of the recent recession. Interest on Build America Bonds is essentially subsidized by the Treasury, allowing municipalities to borrow at reasonable rates to pursue various initiatives. Though the Build America Bond program was not renewed, the securities issued under this program continue to trade; there is nearly $1 billion in assets in the various Build America Bond ETFs. with a 12-month yield of more than 5%, BAB offers a pretty intriguing return opportunity–especially in the current low rate environment.

Guggenheim Timber ETF (CUT)

Most Americans probably can’t give many details of Washington’s time in office, but almost all are aware of his cherry tree-related exploits as a young boy. After chopping down his father’s tree, Washington reportedly confessed to the deed upon questioning, uttering that he could not tell a lit. Given Washington’s propensity to bring down fruit-bearing trees, it seems likely that he would be intrigued by the investment thesis behind CUT.

This Guggenheim ETF offers exposure to the global timber industry, investing in stocks of companies that own and lease forested land and harvest timber for commercial use. the timber industry is cyclical, meaning that CUT will tend to perform well when demand for construction products and other raw materials is strong.

Another legend surrounding our first president relates to the state of his teeth. Washington suffered from teeth problems throughout his life, and eventually started wearing false teeth. Though the urban legend was that Washington’s false teeth were made out of wood, that probably wasn’t the case.

SPDR Nuveen Barclays Capital New York Municipal Bond ETF (INY)

Our nation’s capital is now named for Washington, but during his presidency Washington D.C.  was not yet home to the White House. instead, the capital was in New York City, and Washington lived there for several years during his two terms. This ETF offers targeted exposure to the muni bond market, focusing exclusively on securities from New York issuers. Given the state’s ongoing budget problems, some see INY and the other New York muni ETFs as risky plays. but that also means a potentially appealing yield profile; INY has a tax equivalent yield of about 4% (assuming a top tax rate of 35%).

iShares MSCI United Kingdom Index Fund (EWU)

Though the concept of short-selling wasn’t around in Washington’s day, it seems like a fairly safe assumption that he would short EWU in a heartbeat if given the chance. before he was president, Washington was one of the leaders of the American Revolution, scoring several key victories against the British that ultimately led to independence.

Though the United Kingdom is now one of the strongest allies of the U.S., we suspect that Washington would have continued to hold a grudge against the country that tried to put an end to his rebellion (and his life). EWU focuses primarily on large British companies; the top holdings in this ETF include HSBC, Vodafone, and BP. iShares also recently launched a small cap complement to EWU; EWUS focuses on smaller British companies.

Disclosure: the above is meant for entertainment purposes only – Happy Presidents’ Day From all Of us at ETFdb!

No positions at time of writing.

ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. the opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. all content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.

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Five ETFs George Washington Probably Would Have Liked

Any notions that Apple’siPhone 4S was a lame duck were erased with Apple’s quarterly earnings.

Apple reported revenue of $46.33 billion and profits of $13.06 billion, or $13.87 per share, for the quarter ended December 31, 2011. that was up from the $26.74 billion, or $6.43 per share, the company saw at the same time last year.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads, and Macs,” Tim Cook, Apple’s CEO, said in a statement. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

Analysts polled by FactSet Research Systems, on average, predicted that the company would bring in $10.06 per share on revenue of $39 billion.

The performance obliterated Apple’s own estimates, which called for earnings of $9.30 a share on sales of $37 billion. Apple made a rare miss in its previous quarterly earnings, posting results that were strong but lower than analysts expected, due in no small part to customers holding off on buying new iPhones in anticipation of a newer model.

For its current quarter, Apple expects revenue of $32.5 billion and projects earnings of $8.50 per share, 48 cents above analyst expectations.

Apple’s gross profit margin for the quarter was 44.7 percent, up 38.5 percent percent from the same quarter last year.

Following the news, shares of the company skyrocketed, sending Apple to new highs. in after-hours trading, Apple was up by $33.59, or 7.99 percent.

By the numbers as expected, theiPhone was the star of Apple’s quarter, with the company having sold 37.04 million units. That’s well above the 30 million analysts were expecting. This is the first quarter to include sales of the iPhone 4S, which hit shelves in mid-October and had stronger launch sales numbers than any previous iPhone model.

Apple's iPhone 4S was the company's top seller.

(Credit:Apple)

Apple also said it sold 15.43 million iPads during the quarter, up 111 percent from the 7.33 million it sold during the same time a year ago. that exceeded the 13 million to 14 million units analysts were expecting.

Of special note were Apple’sMac sales, coming in at 5.2 million units. that surpasses the 5 million units for the first time ever and bests the company’s previous top tally of 4.89 million units, set in its previous quarter. that figure matched up exactly with the 5.2 million analysts were expecting Apple to sell.

iPods continued their decline, with Apple posting sales of 15.4 million units, a decrease of 21 percent, compared to the company’s sales during Apple’s first quarter last year. This was the first time in recent years in which Apple did not do a full refresh of its iPod Touch line, which continues to make up the majority of iPod unit sales. When debuting the iPhone 4S in October, Apple opted instead to offer it in a new color (white), as well as cut its price.

Along with Apple’s product line, the company’s retail stores saw notable growth year over year. Apple’s retail group accounted for $6.1 billion in revenue for the quarter, an increase of 59 percent compared to the same quarter last year. part of the reason for that was foot traffic to the company’s stores, which Apple pegged at 110 million visitors, up from 76 million last year.

From the callDuring its conference call with investors following the release of its financials, Apple fielded questions about its rivals, including Amazon and its Kindle fire tablet, as well as how it stacks up against competitors in the smartphone field.

A Goldman Sachs analyst questioned whether Amazon’s $199 Kindle fire tablet–and other low-cost iPad alternatives like it–might actually be turning people on to Apple’s iPad or making an impact on Apple’s sales.

(Credit:Apple)

“In terms of our competitiveness, the ecosystem for iPads is in a class by itself,” Cook said. “I think people really want to do multiple things with their tablet, and therefore, we don’t really see these limited-function tablets and e-readers [as] being in the same category.”

Cook noted that there were a number of customers that would buy what he referred to as “limited function” devices but that people who wanted to buy an iPad wouldn’t “settle” for something else.

“In terms of tablets, last year was supposed to be the year of the tablet, and I think most people would agree that it was the year of the iPad for the second year in a row,” Cook boasted. “So we’re just going to continue to innovate like crazy in this area, and we think we can continue to compete with anyone who is currently shipping tablets or that might enter in the future.”

When asked whether Apple and Google were in a “two-horse race,” in terms of market share with iOS and Android, Cook dismissed the claim.

“iOS is doing extremely well,” Cook said. “I wouldn’t say it’s a two-horse race. There’s a horse in Redmond that always suits up and always runs, and will keep running, and there are other players we can’t count out.”

Instead, Cook offered that the company continues to focus on “making the world’s best products.”

“We’ll just keep on doing that and somewhat ignore how many horses there are,” Cook said. “We just want to stay ahead and be the lead one.”

Updated at 3:50 p.m. with additional details from Apple’s earnings call with analysts and investors. you can read along with some of its highlights in CNET’s live blog of it, embedded below.

iPhone 4S propels Apple to massive earnings

Apple blew past forecasts and reported record quarterly net profit and revenue in the first quarter since the death of founder Steve Jobs, driven by strong sales of the new iPhone.

Apple reported record quarterly net profit and revenue in the first quarter since the death of founder Steve Jobs, driven by strong sales of the new iPhone.

Apple said its net profit more than doubled in the first quarter of fiscal 2012 to a record $13.06 billion while revenue soared to an all-time high of $46.33 billion from $26.74 billion a year ago.

Earnings per share of $13.87 easily surpassed the $10.08 per share expected by Wall Street analysts.

Apple said it sold 37.04 million iPhones in the quarter which ended on December 31, up 128 percent from a year ago, and 15.43 million iPads, a 111 percent increase.

The California-based gadget-maker sold 5.2 million Macintosh computers in the quarter, up 26 percent, and 15.4 million iPods, a 21 percent decline from a year ago.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” Apple chief executive Tim Cook said in a statement.

“Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline,” Cook said.

Apple’s previous quarterly highs for iPhone, iPad and Macintosh sales were 20.34 million, 11.12 million and 4.89 million respectively.

Investors applauded the blockbuster quarter, sending Apple shares up 7.5 percent to $452.00 in after-hours trading.

It was the company’s first full quarter without its visionary co-founder and chief executive Steve Jobs, who died of cancer a day after the October 4 launch of the iPhone 4S.

Jobs’s widow, Laurene Powell Jobs, was a guest in the box of First Lady Michelle Obama as US President Barack Obama delivered his State of the Union address on Tuesday.

The hot-selling iPhone 4S was the “fastest iPhone rollout” in the company’s history, Cook said in a conference call with financial analysts.

“We made a very bold bet on demand” but the company was “still short” in some markets due to pent-up demand, he said.

“As it turned out we didn’t bet high enough,” said Cook, who took over as CEO from Jobs in August.

Growth in iPhone sales in the United States and Japan was “great,” he said. “We could not be happier.”

The fiscal 2012 first-quarter included a 14th week, the important holiday shopping week between Christmas and New Year’s.

Apple said it ended the quarter with a cash pile of $97.6 billion, compared with $81.6 billion for the September quarter.

“We are actively discussing the best use of our cash balance,” Peter Oppenheimer, Apple’s chief financial officer, said in the conference call.

“We don’t have anything to announce specifically today,” he added.

Cook indicated the priority for iPhone expansion was China.

“We have a ton more energy in the China market today,” he said.

The iPhone was sort of a “catalyst” in spurring sales of other Apple products, much like the iPod’s “halo” effect on the Macintosh in 2003-2004, he said.

The iPad, which runs on Apple’s operating software, is benefiting from competition among other tablets and there is even some “cannibalization” of Windows personal computers by the Apple tablet computer, Cook said.

“We’re just going to innovate like crazy in this area,” he said.

More than 55 million iPads have been sold since its launch in April 2010.

Apple’s forecasts for the current quarter leaped over Wall Street expectations: $32.5 billion in revenue and earnings of $8.50 per share. the market had penciled in $32 billion and $8.03, respectively.

Apple’s iCloud, launched a few months ago, now has more than 85 million subscribers.

That was an “incredible” response from customers that marked a fundamental shift in recognition of the need to have numerous devices integrated online, Cook said.

He said iCloud is “not a product, it is a strategy for the next decade.”

Bangkok Post : Apple’s iPhone sales soar

Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests, and fellow Americans:

READ OBAMA’S STATE OF THE UNION REMARKS ON IMMIGRATION.

Last month, I went to Andrews Air Force Base and welcomed home some of our last troops to serve in Iraq. Together, we offered a final, proud salute to the colors under which more than a million of our fellow citizens fought – and several thousand gave their lives.

We gather tonight knowing that this generation of heroes has made the United States safer and more respected around the world. For the first time in nine years, there are no Americans fighting in Iraq. For the first time in two decades, Osama bin Laden is not a threat to this country. most of al Qaeda’s top lieutenants have been defeated. The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home.

These achievements are a testament to the courage, selflessness, and teamwork of America’s Armed Forces. At a time when too many of our institutions have let us down, they exceed all expectations. They’re not consumed with personal ambition. they don’t obsess over their differences. they focus on the mission at hand. they work together.

Imagine what we could accomplish if we followed their example. think about the America within our reach: a country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs. a future where we’re in control of our own energy, and our security and prosperity aren’t so tied to unstable parts of the world. An economy built to last, where hard work pays off, and responsibility is rewarded.

We can do this. I know we can, because we’ve done it before. At the end of World War II, when another generation of heroes returned home from combat, they built the strongest economy and middle class the world has ever known. my grandfather, a veteran of Patton’s Army, got the chance to go to college on the GI Bill. my grandmother, who worked on a bomber assembly line, was part of a workforce that turned out the best products on Earth.

The two of them shared the optimism of a Nation that had triumphed over a depression and fascism. they understood they were part of something larger; that they were contributing to a story of success that every American had a chance to share – the basic American promise that if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement.

The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important. We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What’s at stake are not Democratic values or Republican values, but American values. We have to reclaim them.

Let’s remember how we got here. Long before the recession, jobs and manufacturing began leaving our shores. Technology made businesses more efficient, but also made some jobs obsolete. Folks at the top saw their incomes rise like never before, but most hardworking Americans struggled with costs that were growing, paychecks that weren’t, and personal debt that kept piling up.

In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn’t afford or understand them. Banks had made huge bets and bonuses with other people’s money. Regulators had looked the other way, or didn’t have the authority to stop the bad behavior.

It was wrong. It was irresponsible. And it plunged our economy into a crisis that put millions out of work, saddled us with more debt, and left innocent, hard-working Americans holding the bag. In the six months before I took office, we lost nearly four million jobs. And we lost another four million before our policies were in full effect.

Those are the facts. But so are these. In the last 22 months, businesses have created more than three million jobs. last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s. Together, we’ve agreed to cut the deficit by more than $2 trillion. And we’ve put in place new rules to hold Wall Street accountable, so a crisis like that never happens again.

The state of our Union is getting stronger. And we’ve come too far to turn back now. as long as I’m President, I will work with anyone in this chamber to build on this momentum. But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place.

No, we will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits. Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.

This blueprint begins with American manufacturing.

On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die. With a million jobs at stake, I refused to let that happen. In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences. We got the industry to retool and restructure. Today, General Motors is back on top as the world’s number one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories. And together, the entire industry added nearly 160,000 jobs.

We bet on American workers. We bet on American ingenuity. And tonight, the American auto industry is back.

What’s happening in Detroit can happen in other industries. It can happen in Cleveland and Pittsburgh and Raleigh. We can’t bring back every job that’s left our shores. But right now, it’s getting more expensive to do business in places like China. meanwhile, America is more productive. a few weeks ago, the CEO of Master Lock told me that it now makes business sense for him to bring jobs back home. Today, for the first time in fifteen years, Master Lock’s unionized plant in Milwaukee is running at full capacity.

So we have a huge opportunity, at this moment, to bring manufacturing back. But we have to seize it. Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.

We should start with our tax code. Right now, companies get tax breaks for moving jobs and profits overseas. meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it.

So let’s change it. First, if you’re a business that wants to outsource jobs, you shouldn’t get a tax deduction for doing it. That money should be used to cover moving expenses for companies like Master Lock that decide to bring jobs home.

Second, no American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. from now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay here and hire here.

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BOSTON (CBS) -  the New England Patriots are looking to snap a three-game losing streak in the playoffs Saturday night when they host the Denver Broncos in a Divisional Round matchup.

The Patriots already handled Tim Tebow and the Broncos once in the regular season, but after their showing against the Pittsburgh Steelers last week, Denver has some momentum in their favor.

Here are five Patriots to keep an eye on come Saturday night.

Tom Brady

Tom Brady began his playoff career winning his first 10 games, throwing 14 touchdowns to just three interceptions. but after three Lombardi Trophies, Brady has come back down to earth. He is just 4-5 in his last nine playoff games, throwing 13 interceptions to his 16 touchdowns.

Win or lose, Brady will set some history on Saturday. With a win, he will become just the second QB with 15 postseason wins, joining Joe Montana and his 16 postseason victories. With a loss, he would become just the fifth quarterback in NFL history to lose four straight postseason games.

Read: Levan Reid’s Patriots Blog

Brady has been taking a backseat to the Tebow hype all week. Saturday would be the perfect time to steal back the spotlight.

Patrick Chung

Chung was injured when the Pats and Broncos met up in Week 15, but his return should go a long way for New England in the playoffs. Denver was able to run all over the Pats to start that game in Denver, bursting through the Pats first, second, and final line of defense with ease. Having the hard-hitting Chung out there should keep the Broncos run attack to more “human” numbers than the 252 rushing yards they had in December.

Divisional Playoffs: CBS Local Picks

He was also one of the goats of last year’s playoff loss to the Jets, calling for a fake punt right before halftime. Look for Chung to make amends that blunder, as he injects more energy into a secondary that has been flat nearly all season.

Stevan Ridley

The rookie running back saw his workload increase as the season wound down, getting 39 of his 87 carries over the final three weeks. Ridley has run the ball well when given the chance, averaging just over five-yards per carry.

The Pats should try to establish some kind of run game early on, and could look towards Ridley to do that. if they get out to a big lead, look for the rookie back to get some touches to kill some clock. That is what he did in Week 15, getting five of his 11 carries in the final frame. Ridley ran for 65 of New England’s 141 rushing yards in the 41-23 win.

Jerod Mayo

Rob Ninkovich had difficulties keeping track of Tim Tebow in December, mostly because of the coverage from tight end Virgil Green. Look for Mayo to make more of an impact on Saturday, keeping tabs on the versatile QB. Mayo led the way with eight tackles in Week 15, which is the one thing the Patriots defense will need most this weekend. They missed a lot of tackles early on in Denver, letting the Broncos burn them in that first quarter.

Watch: Pick ‘Em Show: Playoff Edition

Mayo should feel a little better with Chung back behind him, and he will be hungry for his first career playoff victory. Look for the defensive captain to put up more big tackling numbers, and make sure Tebow doesn’t run wild again.

Deion Branch

Branch has been quiet this season, with Tom Brady going more to Wes Welker and his tight end duo. the 10-year veteran fought a groin injury at the end of the season, but his chemistry with Brady cannot be overlooked. bill Belichick said Thursday that Branch is one of the best receivers at being at the right place at the right time.

Read: Welker Grows “Rally Stache” For Playoffs

The Broncos focused heavily on Welker and Gronkowski the first time out, letting Hernandez break out with nine receptions. even Chad Ochocinco got in on the fun, hauling in his only touchdown of the season. if the Broncos focus too much on Hernandez, Gronk or Welker, Branch and Brady will make them pay.

Tune in to the Patriots-Broncos playoff game Saturday night at 8pm on 98.5 the Sports Hub and WBZ-TV. Pregame coverage begins Saturday at 5pm with Patriots Preview on 98.5, with a special edition of Patriots GameDay on WBZ-TV at 7pm. After the game, stay tuned for Patriots Postgame on the Hub, and Patriots 5th Quarter on WBZ-TV.

Five Patriots To Watch Against Broncos