Apple Earnings Wow The Tech Industry
If 2012 turns out to be the year the world ends, Apple shareholders can cash out while the iron’s hot. On Tuesday, Apple reported a record quarterly revenue of $46.33 billion and $13 billion in profit for the first quarter of 2012, boosting shares 10% in after hours trading. No surprises there. According to Business Insider, the tech giant has sold 37 million iPhones. Thank you, Siri. The company reportedly now has $97 billion in cash in the bank.
Tim Cook said in an earnings statement, “We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs.” He added, “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”