Apple (AAPL) blew past expectations — its own and Wall Street’s — to report record third-quarter earnings Tuesday.
Buoyed by strong sales of its new iPhone, an explosion of iPhone applications and price cuts on its flagship MacBook line, the company earned $1.35 per share on revenue of $8.34 billion — up nearly 12% year over year.
Analysts were expecting earnings of $1.17 on revenue of $8.2 billion, according to Thomson Financial.
Apple’s shares, which had closed at $151.51, down 0.91% for the day, rose sharply in after-hours trading. By 5:49 p.m. its shares had climbed 4.3% to $158.03.
The stock has been one of the market’s best performers of 2009, having risen nearly 80% against the Nasdaq’s 21%.
The strong results in the face of a global economic slump could be viewed as vindication of the company’s decision to stay out of the market for low-cost netbooks — which now dominate the consumer PC business and are squeezing the profit margins of Apple’s competitors.
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- July 22, 2009
- article by Alexandru Cosmin
- 3 comments
The Web is full of middlemen and aggregators. Google is the biggest. Digg once was the coolest. And now Twitter and URL-shortening services create (mostly) transparent bridges between Web content, like news stories, and online readers.
People both love and hate these go-betweens. On one hand, sites like Digg, Facebook and Twitter give readers access to all kinds of news and social content they might not otherwise see. But small changes can make a benevolent middleman seem downright meddlesome.
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- July 22, 2009
- article by Alexandru Cosmin
- 4 comments
BEIJING, China (CNN) — A Chinese factory that makes iPhones said Wednesday that it has suspended several staffers after an employee committed suicide, apparently under duress when a prototype went missing.
Foxconn manufactures the popular iPhone for U.S.-based Apple in China.
Foxconn manufactures the popular iPhone for U.S.-based Apple in China.
Sun Danyong, 25, jumped off the 12th floor of the Foxconn Science and Technology Group in the southern city of Shenzhen last week.
The recent engineering school graduate sent 16 model phones to phone manufacturer, Apple, but only 15 were received, said the state-run newspaper New Beijing Post.
Because of the missing phone, Sun was questioned by company officials and — according to posts on online forums by his friends — detained, searched and beaten.
Apple China said it was awaiting the results of an investigation into Sun’s death.
“We require that our suppliers treat all workers with dignity and respect,” Apple said in a statement.
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- May 12, 2009
- article by Alexandru Cosmin
- 3 comments
