Apple Investors Riding High.
Yesterday’s post talked about how technology companies might lead the economy out of the economic recession. And in line with that, Apple computers (APPL) reported higher than expected earnings. Much like IBM and AMD, these better than expected returns are due to higher demand for laptop computers, iPods and iPhones.
Surprisingly, the number of iPhone’s was lower than expected. However, analysts say that is due to the fact that Apple could not keep up with demand for a large portion of the quarter.
Many on Wall Street think that Apple is poised to do even better over the coming year. This is based on the opening of China to the iPhone and anticipated new products such as a netbook and tablet computer