Tuesday, April 24, 2012

Apple Rides iPhone Frenzy


Apple's quarterly profit nearly doubled thanks in part to strong sales of its iPhones and iPads. MarketWatch's Dan Gallagher talks about the results and potential market reaction.

Apple Inc.'s AAPL -2.00% quarterly profit nearly doubled as iPhones and iPads continued to fly off shelves, putting to rest recent worries that the company can't maintain its momentum.  Shares gained more than 7%, or $40.55, to $600.83 in after-hours trading Tuesday—after falling in 10 of the past 11 regular trading sessions amid concerns about a potential iPhone slowdown. Instead, iPhone shipments jumped 88% in the quarter, as Apple continued to penetrate new markets like China...

Don’t stop reading.  Check out http://online.wsj.com/article/SB10001424052702303459004577364293267650950.html?mod=WSJ_hp_LEFTTopStories

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