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Apple announce record profits for last quarter

By rotide
Created 19/01/2011 - 08:03

Steve Jobs, revealed a new set of figures in the quarter ending on Christmas day yesterday, as the volumes of Iphones Ipads and Macs bought exceeded analysts predictions, 71% up on the same period last year

The market is very aware of Steve's ongoing health problems, as he takes the third medical leave since 2004 to combat pancreatic cancer, the last absence from the company in 2008/2009 to have a Liver transplant.

The knee jerk market reaction to these medical absences is to sell Apple stock but they have proven to be buying opportunities every time. The stock has in fact quadrupled over the last two years as Apple continues to release market leading, innovative products, the Ipad now emulated by many of their competitors in one form or another.

Apple of course do not want to be seen as a one man company and Tim Cook who takes over from Steve in these situations has  market confidence but the worry is that he may not have the vision of Steve Jobs. 


Source URL:
https://www.newbusiness.co.uk/news/apple-announce-record-profits-last-quarter