Apple market value closes in on Microsoft as Jobs vows ‘extraordinary’ new products

Apple Online Store“Apple Inc. rose to a record in Nasdaq trading after profit almost doubled last quarter and Chief Executive Officer Steve Jobs tantalized investors with the promise of ‘extraordinary’ new products,” Connie “The Vulture” Guglielmo reports for Bloomberg.

“The doubling of the stock in the past year already has made Apple the third-most valuable company in the U.S. and today’s gains bring it closer to the No. 2, rival Microsoft Corp.,” Guglielmo reports. “Apple jumped as much as 6.3 percent on the Nasdaq Stock Market.”

“Sales this quarter will be as high as $13.4 billion, Apple said yesterday, topping the $13 billion anticipated by analysts. The forecast came after a 90 percent surge in second-quarter profit on demand for the iPhone and Macintosh personal computer. Jobs said the results added up to the best non-holiday quarter in Apple’s history,” Guglielmo reports. “‘It’s a huge beat, this is a tremendous beat,’ said Bill Kreher, an analyst with Edward Jones & Co. in St. Louis. He advises investors to buy the shares, which he doesn’t own. ‘Apple is demonstrating they are clearly king of the mountain in technology land.'”

MacDailyNews Take: For as long as they’ve been in existence, Apple’s been “king of the mountain in technology land.”

Guglielmo continues “More new devices are on the way, said Jobs, 55. ‘We have several more extraordinary products in the pipeline for this year,’ he said in a statement.”

Full article here.

33 Comments

  1. It had better not be an iPad with a front facing camera. I just ordered my 64GB 3G model. I’m betting on a once a year update cycle as they do with other mobile products. Maybe I’m being dumb and this is wishful thinking.

  2. Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, Mini Tower, !

  3. I agree on the mini Tower…that’s been shown in patent news…

    but I also think you may see a more vertical market device with adaptability…a sort of “business” ipod touch that permits point of sale purchases much like they now have in Apple Retail stores. This kind of device would be incredibly useful in so many retail environments.

    And and and…. the Apple audio interface that has been in the laps lo these many years (called Android no more) may finally see the light of day. Apple’s own professional products Logic and Final Cut Pro need something from Apple to tie them together.
    AND a junior version to take Garage Band to the next level.

  4. a mini tower will never be “cheap” enough to generate real sales. it’s a fan boy’s dream to get a Mac Pro for less money.

    at this point the iMac is the Mac Pro for everyone else. Fast enough and with enough ports to add what you need.

    if you want some flexibility it’s the Mac Mini and if you’re a power user, suck it up and buy the Mac Pro.

  5. @ Joe
    You must be used to M$ freezing the market with forthcoming vaporware products. This is Apple we’re talking about; think different! Buy it now and you will not be unhappy.

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