Apple’s Quarterly Profits Impress

This news this week centers around Apple’s quarterly financial results. Once again, Apple seems to have wowed Wall Street with better-than-expected results.
It recorded a $1.23 billion profit for the quarter, as compared to $1.07 million for the same quarter last year.
Mac sales grew in contrast to the rest of the computer industry. They sold 2.6 million Macs, 4 percent higher than the same quarter last year.
iPhone sales were in fact seven times that of the quarter last year, with 5.24 million sold. Apple also reported 1.5 billion apps were download from the iTunes App Store, though that combines free and paid apps.
This may be cutting into iPod sales, as they only sold 10.2 million iPods, which is 7 percent less than last year.
The stock price went up on the news, as you would expect. In fact, AAPL is up about 80 percent so far this year, compared with 21 percent for the rest of the NASDAQ.