Apple stock on the rise

Whilst other tech companies are facing slumps, Apple’s finances are going from strength to strength. The company has reported a strong final quarter thanks to the iPhone and a strong laptop range.

Whilst other tech companies are facing slumps, Apple’s finances are going from strength to strength. The company has reported a strong final quarter thanks to the iPhone and a strong laptop range.

The company today reported net profits of $US1.14 billion ($1.62 billion) for the quarter which ended September 27, up 31 per cent from the same period last year.

Speaking of the results, Apple CEO Steve Jobs commented:

“Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone – we sold more phones than RIM,”

According to Apple, 6.89 million iPhones were sold in the quarter, up from 1.11 million in the same period last year.

MAC computers also had good growth, with the company reporting to have shipped 2.61 million Macintosh computers during the quarter – a 21 per cent unit growth and 17 per cent revenue growth over the same period last year.

Apple’s dominance of the MP3 market also continued- selling 11.05 million iPods during the quarter

“We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history,” Jobs said.

Source: The Australian IT

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