Apple Starts Year On High
- 37 million iPhones sold
- 15 million iPads sold
- US$13 billion profit
Even without its legendary leader Steve Jobs, Apple is still head of the tech pack when it comes to profitability.
Amid all the doom and gloom of the world’s global financial problems there is one company that appears to be a shining beacon of profitability and fiscal responsibility – Apple.
At one stage last year the tech giant had more cash available in the bank than the United Sates government, and its first quarter revenue has even surprised those on Wall St.
Analysts were expecting a profit of about US$10 a share, but were surprised that it almost hit US$14, with a net profit of just over US$13 billion. Unsurprisingly the main reason behind its success are massive sales of its two iconic products the iPad and iPhone.
More than 37 million iPhones and over 15 million iPads have been sold this year, and Apple is pretty bullish about the coming year, even if some world economies are going to struggle.