News : Apple Profits Score Record High

Computer manufacturer Apple can celebrate all night as their profits have had a 50% jump. This is a record high for the company.

The quartley net profits were $3.38 billion. This is up from $2.26 billion they made last year. This smashes the previous record by almost $850 million, according to the chief financial office - Peter Oppenheimer.

3.36 million Macintosh computers were sold by Apple during the quarter, which represents a 33% increase compared to a year ago.

It has also shifted 8.7 million iPhones over a three month period, representing 100% unit growth, and 21 million iPods - actually an 8% decline.



The company's latest launch is the tablet computer and investors hope that it could be as successful as the iPod and iPhone.

Not much information has been given about the latest device, however, industry experts say that due to Apple's attention to design and detail, it could be another hit.

Analyst Brian Marshall said: "If Apple is going to design a product, then it's going to be the best design in the marketplace. To bet that it's going to be a flop is a bad bet.”

The device is hyped as a do-everything, go-everywhere touchscreen media gadget that bridges the gap between smartphones, laptops and electronic readers.

Magazine, book and newspaper publishers are reportedly talking to Apple about providing material.

Although the market analysts haven't factored in the tablet in 2010 financial estimates, there has been a surge in private investors buying shares.

Analysts believe Apple will sell two million to five million tablets in the first year - although they say the price tag will be a big factor on sales with estimates ranging between £600 and £375.

Source: www.skynews.com

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