Apple Earnings
Today after the U.S. markets closed Apple reported a net profit of $13.06 billion, or $13.87 a share. Analysts had expected Apple to earn $10.16 per share. Revenue jumped 73 percent to $46.33 billion, handily beating the average Wall Street analyst estimate of $38.91 billion, according to Thomson Reuters I/B/E/S.
I use Apple products everyday at work and if I wasn't so frugal I would certainly by the products myself. That being said, the next phone I purchase will definitely be an iPhone. The first tablet I buy will definately be an iPad. Have you ever used an iPad? They are amazing! My buddy at work is nice enough to let me play around with his iPad a bunch and it is awesome! If I was him I wouldn't let any one touch it!
Apple is also sitting on astronomical amounts of cash, they have not saturated the world markets with their great products, and their mobile devices are the best out there. For the near future Apple is a sure thing as a company and a stock.
I do think that eventually Google with their army of droid phones could over take Apple in the mobile device arms race. The whole mobile internet bull market will push stocks like Apple and Google higher and the competition between the two will lead to better mobile devices and earnings. Not in 2012 though. It looks like it is going to be Apple's year this year.
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