Apple just announced its earnings for its 3rd fiscal quarter this year, and, as expected, they exceeded projections. Both the iPhone and iPad set sales records for the month of June, making them major factors in this quarter’s success.
Don’t worry, we won’t bore you with all of the little details from the earnings call, but there are some important figures we wanted to share. How important? Enough to make Apple’s stock briefly touch $400 per share during after hours trading…
On top of major product announcements, like the fact that OS X Lion is coming out tomorrow, Apple posted some staggering sales data. For starters, the Cupertino company announced it brought in a total of $28.57 Billion this quarter.
A big reason for that was the success of their popular iDevice products. Apple shipped 20.34 million iPhones, which is nearly 4 million more units than what analysts projected.
Apple’s tablet sales also managed to slide past Wall Street’s predictions. Steve Jobs and company sold 9.25 Million iPads this quarter and exceeded expectations, despite obvious component supply problems.
Altogether, Apple’s profits are up 125%. Combine this with the fact that Apple is expected to launch multiple new devices in the next few months, and I’d say it’s a great day to be an investor.
What do you think? How long can they keep up this momentum?
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