Apple results exceed expectations again

Apple turned in higher than expected profits of £3.65 billion pounds for the first quarter of 2011, surpassing analysts expectations, despite selling less Ipads than forecast. However, this was seen more of a supply problem than lack of demand as Apple sold all the Ipads they made. Some component parts come from Japan where the supply chain has been disrupted by earthquake related stocking problems.

This is not viewed as an ongoing problem as demand for Ipads has been huge and they hope to catch up with the backlog of orders as soon as possible. What they have sold equates to an 80% share of the tablet market.

The Iphone continues to shine, selling some 18.7 million units in the period over 2 million more than expected.

These figures, together with excellent results this week from Intel and IBM in the US, have combined to give the markets renewed enthusiasm that the corporate recovery is real, certainly in the technology sector and is supporting equity bullishness globally.

For now the Debt issues, in the US and in Europe are on the back burner and the good news from the world's current number one economic powerhouse, benefits everyone.