Apple records best 4th quarter results
There are few companies where even recession cannot hit. Technology giant Apple has recorded its best 4th quarter results mostly driven by sales of Mac Computers and smartphone iPhone. The company exceeds its expectations and recorded a 47% rise in net profits. Apple CFO said in a statement “We are delighted with our September quarter and fiscal 2009 results”. The company calls it as a ‘most profitable quarter ever’and assures the same for the next quarter. “Looking ahead to the first fiscal quarter of 2010, we expect revenue in the range of about $11.3 billion to $11.6 billion and we expect diluted earnings per share in the range of about $1.7 to $1.78,” Oppenheimer said.
Apple has continued to give tough competition in the computer segment and smartphone market. The company’s Mac computers are in great demand and selling like hot cakes. The iPhone continues to be the leader in smartphone segment. Apple announced the iPhone on 9th January 2007 and introduced it in the US on 29th June 2007 and since then it has been quite a revelation. After the 4th quarter results announced, Apple CEO Steve Jobs said,”We are thrilled to have sold more Macs and iPhones than in any previous quarter. We’ve got a very strong line up for the holiday season and some really great new products in the pipeline for 2010.”
After the results, the company’s stock prices jumped sharply on the Nasdaq Stock Exchange.