Tech Talk

Apple's Unexpectedly Good Quarter

How do you like them Apples? Despite the stagnant economy, Apple Computer Inc. posted record profits and sales last quarter. While all eyes were on the iPhone, sales of Mac computers rose 17 percent and sales of laptop units alone increased 35 percent, at a time when global statistics indicate consumers aren’t buying computers. "These are huge numbers tonight. Apple is probably the best growth story in tech," said one analyst. Net profit increased to $1.67 billion, and revenue rose to $9.87 billion. CFO Peter Oppenheimer insinuated that more lower-cost products are on the company’s horizon. "For the new products that we have and will announce, we are delivering greater value to our customers, and these products have lower gross margins than their predecessors," Oppenheimer said.