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Apple earnings rocket as iPhone sales soar

Apple Inc (NASDAQ:AAPL) made massive profits in its fiscal fourth-quarter with each share rising $1.26 making profits of $1.14 billion, which is up 24 percent from the same quarter last year were the computer giant made profits of $904 million.

With Apple’s products like the iPod, iPhone and computer sales extremely strong, Apple are seeing great sales figures. Sale revenue actually reached $7.9 billion, the same time last year Apple’s revenue was 6.22 billion, according to Apple.

Taking a look at what Apple actually sold during the fiscal fourth-quarter, the company sold 11,052,000 iPod’s which shows a 3 percent revenue growth and 8 percent unit growth, 6,892,000 iPhones were sold this quarter. Plus 2,611,000 Macintosh computers were shipped, which shows us a 17 percent revenue growth and a 21 percent unit growth.

For Apple this is one of the best quarters it’s reported, obviously hugely lead by iPhone sales, Steve Jobs chief executive of Apple said: ‘We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And 25 billion dollars of cash safely in the bank with zero debt.’

So there you have it Apple makes $1.14 billion profit whilst the US and Britain are on the brink of recession, we wonder with the T-Mobile G1 launching tomorrow and the BlackBerry Storm tipped to be launched next month if the iPhone sales will keep Apple’s profits up next year, one thing for sure is Steve Jobs kept to his word of selling over 10 million iPhones this year, will he have bigger and better things up his sleave for next year? We will be keeping a close eye on Apple stocks for you and will keep you posted.

Source: monsterandcritics