Apple Doubles Profits to £7.2Billion

At iCloud Login, we like to keep up to date on all Apple news and affairs, and we thought this was a pretty interesting discovery.

In the first three months of this year, Apple reportedly sold 35 million iPhones and 11.8 million iPads, bringing its net profits up to £7.2Billion, almost double what the industry giant made in the same period last year. The iPad sales were 150% higher than last year.

Apple’s share price hit a whopping $644 confirming its position as the most valuable company in the world, a far cry from their share price of $3.19 in 1997 when they feared bankruptcy. The new results followed a 13% drop in share value in the past few weeks.

Tim Cook, speaking at a conference said “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver,”.

Read the BBC News article on the subject here..

April 26, 2012