Apple’s Results Shatter Expectations

Spurred on by record sales of its iPhone and Mac products, Apple Inc. has posted a quarterly revenue and profit result that has managed to soundly surpasses the average analyst’s estimates. Following Apple’s stunning results, the company’s shares gained 7.5 percent to end at around $204 in extended trading, reflecting renewed investor confidence in the technology industry as of late.

Analysts have praised Apple’s financial guidance this quarter, stating that while the company’s forecasts of its results are usually fairly conservative, their revenue estimates matched with Wall Street’s guesses. Apple has also received great praise for its ability to draw consumer spending even during the economic downturn, prompting some analysts to hail apple as the leading consumer electronics company.

Apple’s results have also given analysts and economists hope that the recent slowing of consumer spending may be on its way to vanishing, as the company’s impressive results point to a consumer base that is willing to shell out money for a quality product. Their results may also intimidate competitors such as Microsoft, which has recently begun to introduce its new Windows 7 operating system into the market.

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