Wednesday, July 22, 2009

The time is right.

The following was clipped from BusinessWeek

Apple Defies Recession

Posted by: Moon Ihlwan on July 22

Apple not only beat analysts’ consensus sales and profit estimates for its fiscal third quarter ended June 27, but it reported its second-best results ever on July 21 for a quarter that didn’t include the winter holiday season. Revenues were up 12% from a year earlier and profits jumped 15% as consumers snapped up iPhones and Macintosh computers. The strong report added to investors’ hopes that technology spending, at least among consumers, is on the rebound.

Apple said it sold 2.6 million Macs, up 4% from a year ago, and 5.2 million iPhones in the June quarter, during which the company launched its third-generation iPhone 3GS and cut the price on the second-generation model to $99. The iPhone is often thought of as more of a consumer device, but Apple said nearly 20% of Fortune 100 companies have bought at least 10,000 units and it is unable to make enough iPhone 3GSes to meet demand.

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