Apple Inc. (AAPL) has recorded strong sales for the second quarter in a row; sales for the iPhone have doubled with Macintosh computers also seeing an increase. Earnings for the quarter ending December 31, 2009 were up 50% on the same period the year before, meaning shares were at $3.67 per share, this works out to $3.4 billion.
Earnings were much healthier than expected, analysts Thomson Reuters had assumed that shares would end at $2.08 each, but you can never count on anything with Apple. It seems that Apple are one of the only companies who are able to operate at a profit when so many are making huge losses, along with Ford, which we discussed in a recent post.
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According to CNN Money, Apple shares have increased
by 32%, which now stand at $15.7 billion. 32% to $15.7 billion. We know that the popularity of the iPhone 3GS has helped immensely, but we are certain that the constant rumors of a new Tablet device would have helped shares.
On Wednesday Apple will host their press event, not only are they expected to launch the rumored tablet device but also a number of other things as well. What these are remain a mystery, many believe that there will be a new iPhone 4G, but we are not certain on this.
The smart money is on a Verizon iPhone, as we recently learned that AT&T’s exclusivity deal with Apple ends in two days, which is perfect timing.
We expect to see Apple perform well in its next quarter if they launch what we have discussed in recent months.