Something worth repeating - Apple reports shipments as "sales" in their quarterly reports.

Just something that I think is worth repeating, that most of you probably don't understand, which is that Apple, when reporting quarterly sales numbers, reports shipments as sales, whereas other companies (like Samsung, Nokia, etc) report shipments as shipments. This comes straight from Apple's SEC filings (look it up if you don't believe me):

(Apple) recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. For most of (Apple)’s product sales, these criteria are met at the time the product is shipped. For online sales to individuals, for some sales to education customers in the U.S., and for certain other sales, (Apple) defers revenue until the customer receives the product because (Apple) legally retains a portion of the risk of loss on these sales during transit."

What this means is that once a device is shipped from Apple's warehouses to Best Buy, Walmart, Target, Amazon, AT&T, Verizon, Sprint, even the Apple store itself, it is no longer counted as part of Apple's inventory and Apple is able to recognize the device as "sold" even though it has not been sold to an end user, let alone arrived at its destination yet.

I'm not giving Apple a hard time for this, as its an incredibly common and reasonable accounting practice that should, and needs, to be used for these types of quarterly reports to ensure all the numbers match up. That said, you look like a fool when you poke fun at other companies who report "shipments" as "shipments" when Apple reports "shipments" as "sales".

True, perhaps Apple devices sell quicker than other companies, but with the way certain Samsung devices are selling these days, most of the devices hitting the sales channel from either company are going to be sold to an end user eventually.