Apple Computer's Profit Rockets 67 Percent
STEVE INSKEEP, host:
NPR's business news starts with a blockbuster year for Apple.
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Profits may be down for banks in other companies but not for Apple which, last night, announced its profits jumped 67 percent in the last quarter. That blew all but the most hopeful estimates out of the water.
For years, Apple has had only about a two percent share of the computer market, but now its slice has grown to eight percent. This is probably because of the iPod phenomenon. More than 120 million iPods had been sold since the device debuted in 2001 and that portable music player has led many consumers to the Mac computer. The iPhone is also driving up Apple's fortunes. Apple has sold 1.4 million iPhones since its June launch which means the iPhone is selling better than the iPod first dip.