Apple breaks estimates with iPod and iPhone sales

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Apple current quarter earnings report is out. This report crossed all estimations of analysts. Increased sale of iPod and iPhone contributed to this. The company’s share recorded at $13.87 which was almost double the price i.e; $6.43 in the beginning of year.

There was hike in revenue by 73%. Last year $26.74 billion revenue reached to $46.3 billion. Analysts estimated the earnings to be at $10.10 per share and $38.9 billion revenue. As per the company records, they have sold off 37 million iPhones, 15.4 million iPads and 5.2 million Macs. This is only quarter sales.

Tim Cook, Apple CEO said that they were happy with the record setting sales. The quarter ended up with $97.6 billion cash in hand. The company’s outlook is also crossing the analyst’s expectations. Each Peg of Company is costing $8.50 to generate revenue of $32.5 billion. Analysts expected it to be $8.04 per Peg and $32.1 billion revenue.

Analysts say that the company has strong margins and hoped that it would continue in 2012. Apple also has some issues to clear off like expanding distribution and opening of new retail stores. Steve Jobs former CEO of Apple expired on December 2011; well in advance he handed over the company to Cook. iPhone 4S of the company was released in October. Within hours of its release the price of share jumped to $460.

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