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Apple Profits up 85% on last year

Apple Profits up 85% on last year

Apple is doing very well in 2011, generating nearly 100% improvement on last years profits. As of the 25th of September, they have generated upwards of $25.9bn (£16.5bn). This takes into consideration the iPhone 4s, which has only really just started its sale history, but it contributed massively to the 17.1 million iPhones sold this year.

Apparently though this is less than expected, which seems hard to believe. Some are claiming that Apple was expecting to push out around 20 million handsets by this point in the year. The reason they didn’t reach this target is because people held off buying a new iPhone, waiting for the 4s to be released. Well, duh?

“The numbers came in weak. They need to set records every time they report to keep up the momentum,” said Colin Gillis, analyst at BGC Partners.

The analyst nose upturning ended up causing a 5% stock drop for the fruity firm.

“The numbers are actually quite good. The reason why the stock is off – I think some of the analysts got carried away,” said Shaw Wu, analyst at Sterne Agee.

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