iPhones at core of Apple stock gains
Gadget’s brisk sale coupled with strong Asian business boosts US technology company’s strong share performance.
Published On 20 Jul 2011
Shares in US technology giant Apple Inc have surged to a record high, doubling its figures from this time last year.
The company is reporting a third-quarter net income of more than $7bn, or $7.79 per share, and the news has driven up Apple’s share price to $405, an all-time high.
The result is mostly due to the brisk sale of iPhones, of which more than 20 million were sold worldwide in the last quarter.
Apple said strong Asian business, particularly in China, was also key to the record perfomance.
Al Jazeera’s Melissa Chan reports from Beijing.
Source: Al Jazeera