The quarterly financial results for Apple Inc have shocked just about every analyst on the Wall Street, as the company’s shares went through the roof, posting a figure that far surpassed the estimates given by Wall Street. The credit for Apple’s incredible financial streak goes to the record sales of iPhones and Macintosh computers.
The Mac computer sales witnessed a steady rise in numbers, as the final figure rose by more than 17%, making the machines the biggest contributors to Apple’s revenue. However, the much cherished and dependable iPHone was marred by delays and hurdles that came across in shipping of the product, especially in the international market.
According to Barry Jaruzelski (Booz & Co.),
“The big story is the renewed ascendancy of the Mac. The only surprise would be when Apple doesn’t surprise on earnings …. The Mac and iPhone continue to grow and take share, and they’re taking share with premium pricing.”
Mac sales recorded an all time high of 3.05 million for the month of September, far surpassing the projected figure of 2.8 million, with the Apple notebook sales registering a 35% increase. Apple Inc. posted a net profit of $1.67 billion, giving the face value to its shares at $1.82 a share. As compared to the same period last year, Apple has shown a considerable growth, as the net profit in the September ’08 was $1.14 billion, or $1.42 a share.
According to Peter Oppenheimer (Chief Financial Officer, Apple Inc.),
“For the new products that we have and will announce, we are delivering greater value to our customers, and these products have lower gross margins than their predecessors.”
Via Reuters.