Apple record profits and share price

Not all the technology news coming out of the US at the moment is good, with Cisco having "lost it's way" last week, but Apple who notoriously underforecast results, never fail to bring a smile to investor's faces.

Net Revenue has come in at US$ 28.6 billion with income at US$7.31 billion, propellling the share price above US$400 for the first time and looking to go higher.

Iphones are  going well in a very tough market as are Ipads but the Ipod's revenue is around 20% lower.

More good news for Apple as a court judgement has just ruled that a major competitor in the smartphone market, HTC, have been found to have violated 4 Iphone patents and this could have repercussions for other manufacturers incorporating Android  software into their products.

HTC have appealed against this ruling but their shares are already showing weakness, which will do Apple no harm at all.