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via IGN.com Three words summarize Steve Jobs’ plan for iCloud, “Free, Storage & Sharing”

The service will allow users to download and share various iOS and Mac OSX files including photos, music, calendars and books to multiple devices with some applications working with Windows-based systems.

One of the more notable announcements surrounded iTunes where users can re-download previously purchased music files on other platforms once set up.  In addition, iTunes Match was announced in which your non-iTunes library is scanned and matches similar content and uploads it to the cloud.  This service will be available in March for $24.99 and includes up to 20,000 songs.

What’s free?  5GB of mail, document and back up storage for music, apps and books.  It all be available this fall.

Source: Venture Beat

I’d like to introduce a new category to the Out N’ Front Blog, titled “The Street.”  These posts will give a short recap of quarterly earnings reports and financial analysis of device manufacturers and mobile telecom companies provided by Wall Street analysts.  Taking into account all the recent news surrounding Steve Jobs leave of absences from the company, let’s begin with Apple.

In their strongest quarter in history, Apple recorded $26.74 billion in revenue and $5 billion in net profits during fiscal Q1’11.  Beating Wall Street expectations and in some cases their own, here’s a breakout of the revenue and profits:

  • iPhones – 16.24MM ($10.5b)
  • iPads – 7.33MM ($4.6b)
  • Macs – 4.13MM ($3.7b)
  • iPods – 19.4MM ($3.4b)

Of the $26.74 billion, $9.2 billion  came from the Americas with $3.8 billion coming from the retail channel.

Additional Facts:

  • 50% of iPod sales were comprised of iPod Touch’s +27%
  • 80% of Fortune 500 companies are already piloting or deploying the iPad
  • 88 of the Fortune 100 companies are deploying iPhones
  • Mac sales beat IDC estimates by 8x

Looking Ahead:

  • Apple has set Q2’11 (fiscal)  revenue estimates at 22 billion