Business

Apple's figures top most analysts' predictions once again
by Corina Ciubotaru

The iPhone, as you probably know, is a product with many functions. It works as a telephone, a media player or a storage unit with a touchscreen, and recently word is out that is became the driving force behind Apple's fantastic fourth quarter. 1.12 million units were sold since June out of a total of 1.39 million since its release, and Apple officials claim it took more than two years for the iPod to reach such numbers. The iPhone's price cut was apparently a major incentive for buyers, and the new iPod Touch is expected to be a hit during the holiday season, when the company from Palo Alto might top analysts' expectations once again. Apple's stock rose by $3.94 and closed at $174.36, after doubling its value since January and there's no sign of the company slowing down in the next years, as they plan to sell 10 million iPhones in 2008. The Macs are also doing better in sales and all this profit is doing wonders for their exclusive carrier for the iPhone, AT&T, whose profit also rose by 41 percent to $3.1 billion. Apple's own earnings reached $904 million during the last quarter, with 2.16 million Macs sold and a current slice of 8 percent of the PC market. For the entire year, the company's sales reached a staggering $3.5 billion, up from $1.99 billion last year and at an earning rate of $1.01 per share this quarter, they effortlessly beat most optimistic analysts' expectations of 86 cents a share.

related story: http://news.yahoo.com/s/ap/20071022/ap_on_hi_te/earns_apple;_ylt=AuTD5mFc3odv4AsL4UoQbpms0NUE

by Corina Ciubotaru for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 7:06 PM