Apple profits on the rise

Looks like another tech company is doing well in the face of a rough economy as Apple posted a spiffy profits report...

SEATTLE — Apple Inc. said its net income rose 47 percent in the most recent quarter as more people bought Mac computers and gave in to the iPhone craze. The results, released Monday, sent Apple shares surging 7 percent in extended trading to an all-time high.

Apple unveiled a faster iPhone in June and cut the price of the previous generation of the phone to $99. That boosted iPhone sales from July through September to 7.4 million devices, half a million more than last year.

Apple weathered the economic meltdown better than other computer companies, giving it a running start when PC sales grew in the quarter. Apple had also updated its Mac operating system and refreshed its Macbook Pro line. Apple sold 3.1 million Macs, a 19 percent rise from the same period a year ago.

With Google also posting it's biggest profit ever, things look up for the economy at least in the tech sector, now if that could translate over into other parts of this country's economy, we could be on the road to recovery.

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