Apple Inc. sales took off during the third quarter of this year resulting in a profit of more than $4.3 billion. This was a significant increase over the same period last year, when the company saw a profit of $2.5 billion. During the quarter the Macintosh computers jumped off the shelf at a record pace, which was the primary reason for earnings soaring 70 per cent. Total revenue increased 67 per cent compared with 2009, as 43 per cent of sales originated in the US.
The iPhone was a hot seller during the third quarter, as 14 million were sold. As popular as this item is consistently, sales of the smartphone were still 91 per cent higher than a year ago. This phone is the fourth version of the cultural icon and was released just two days before the end of the second quarter.
As much as the iPhone is the popular item to be carrying to be considered part of the “in” crowd, the iPad is quickly gaining ground. The pad/computer/reader had a very successful quarter as 4.2 million of the devices were sold. Industry analysts expected almost five million pads to be sold during the quarter. A little more than three million were sold in the second quarter.
Steve Jobs, the head man at Apple, confidently remarked that the iPhone had “handily” topped the 12.1 million phones sold by one of the staunchest competitors in the market, Research in Motion, maker of Blackberry devices.
Apple has been especially successful during the global economic recovery, offering out of the box designs and progressive computer/communication devices. The one particular area they have yet to claim victory in is the corporate world.
Even without those sales dollars, Apple stock remains a fairly safe bet showing exceptional resiliency over time.