Once again Apple has rocked the market, however this time it is not the tech market it is the stock market, by announcing a 90 per cent increase in profits.
Even Wall St analysts who spend all day studying company figures got it wrong where Apple was concerned, as the company reported global sales of 8.75 million iPhones in the first three months of the year, an increase of 131 per cent on the same quarter of 2009.
The iPhone has boosted Apple’s revenues by 48 per cent to $13.5 billion, leaving profits of $3 billion, up from $1.6 billion on the previous year.
According to Steve Jobs this has been the busiest period (leaving out Christmas) in the company’s thirty four year history.
Apple released the iPad this month, which is bound to increase revenues further.