Apple Inc. reports record profits during the holiday quarter

Apple Inc. reports record profits during the holiday quarter

Apple Computer has just renamed themselves Apple Inc. and the company has come out with the latest revenue report.

The company has posted record profits during the holiday quarter. Apple however has issued a second-quarter forecast that fell below analyst expectations.

Piper Jaffray analyst Gene Munster spoke about Apple in a note: “Their guidance is always conservative. It’s a bunch of hoo-ha.”

The company however managed to impress the investors with their last quarter report and has easily topped analyst targets.

Apple reported that the profits surged 78 percent as they went on to sell a record number of 21 million iPod players during the period.

These sales on its own accounts for around half of the company’s total revenue for the quarter. Apple further said that they also shipped 1.6 million Macintosh computers during the period.

The revenues were up at $7.1 billion. This is an improvement of 24 percent from $5.7 billion the previous year in the same period.