Apple’s Profits Rise 47%

Oct 25, 09 Apple’s Profits Rise 47%
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Not all of the major companies are hurting during this ongoing recession.  Some, like Apple, are actually thriving.  Because of robust sales of the iPhone and Macintosh computers, their profits increased by 47% last quarter.  This belies what is happening across the rest of the computer industry as the numbers of sales have decreased sharply.

In addition, Apple increased their revenue by $2 billion dollars.  As of this year, they have made a staggering $9.87 billion dollars.  Economists and forecasters believe that much of their profits can be attributed to increased consumer confidence.  Computer sales are also up because of back to school spending, innovations, and price cuts for some of their most popular products.

Amazingly, Apple’s stock has doubled this year as well.  They have done uncannily well considering how bad the overall economy.  Apple has done an excellent job of rebranding themselves and providing innovations that consumers are seeking.  However you feel about Apple products, it is hard to deny the success of their business model.

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