“The stock was up [$15.28, or 6.25%, to $259.87] ahead of the regular session,” AP reports. “Apple shares have more than doubled in price over the past year, with the company’s slick phones and computers luring plenty of buyers despite the recession.”
‘Someone forgot to tell Apple customers Christmas isn’t in March,’ Kaufman Bros. analyst Shaw Wu said in a note to investors Wednesday, reiterating a ‘Buy’ rating on Apple’s stock,” AP reports.
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MacDailyNews Note: Apple yesterday posted revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share. These results compare to revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share, in the year-ago quarter. Apple sold 2.94 million Macintosh computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The Company sold 8.75 million iPhones in the quarter, representing 131 percent unit growth over the year-ago quarter. Apple sold 10.89 million iPods during the quarter, representing a one percent unit decline from the year-ago quarter. It was Apple’s best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent.