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Apple Reveals Record Second Quarter Earnings

Apple continues its tremendous financial growth, beating financial analysts’ expectations as iPhone and Mac reached new record sales.

There were 3.76 million Macs and 18.65 million iPhones sold, registering revenue of $24.67 billion and a net income of $5.99 billion.

“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the year” Steve Jobs, Apple’s CEO said.

Apple sold only 4.69 million iPads, but proudly holds an 80% share of the blossoming tablet market, with Motorola and Samsung following far behind. We can’t hold Apple entirely to blame for the short supply of iPads, the most evident cause being the recent calamity in Japan.

Apple may have learnt from this unusual situation how to deal with such a high demand and what needs to be done in order to redirect production cycle in unexpected circumstances.

"We can attribute some of the weakness to stocking issues at some of the retail outlets and obviously the supply chain issue in Japan. Unfortunately, the supply chain issue will likely persist for the coming months but once we get past summer and the supply chain issues are resolved it's all systems go again for Apple." Capital Advisors Growth Fund portfolio manager Channing Smith said.