Apple Shares Crack $100 Mark
12:27 PM | Eddie Park | 1 comment
Shareholders with investments in Apple have plenty of reason to be happy, as Apple's shares topped over $100 in today's market. Bouyed by Apple's recent announcement of an 88% increase in earnings for the year, prompting investors to jump on what seems like a sure thing.
Sales of both Macs and iPods continue to strengthen, with Apple reporting improved numbers in both:
Apple shipped 1,517,000 Macintosh® computers and 10,549,000 iPods during the quarter, representing 36 percent growth in Macs and 24 percent growth in iPods over the year-ago quarter.According to USA Today, Apple Chief Financial Officer Peter Oppenheimer confirmed that this is Apple's most profitable March quarter ever. The recent surge also flies in the face of accusations brought up earlier this week by the Securities and Exchange Commission against two former Apple execs for improper stock option backdating.
“The Mac is clearly gaining market share, with sales growing 36 percent—more than three times the industry growth rate,” said Steve Jobs, Apple’s CEO. “We’re very excited about the upcoming launch of iPhone in late June, and are also hard at work on some other amazing new products in our pipeline.”
With the iPhone getting ready to roll out, Apple isn't showing any signs of slowing down anytime soon.
Apple - Apple Reports Second Quarter Results
USA Today - Apple shares leap past $100 on strong earnings
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