Apple just announced a record $3 billion in profits and $13.5 billion in sales for the quarter that ended three days before the iPad was delivered. The company’s COO Tim Cook said the company was confident about future quarters, too.
Meanwhile, the stock is starting to approach the estimates that analysts clocked in once the drumbeat of iPad took off. As of this afternoon, the Associated Press reports that shares are at $261 each, about an 8 percent after-hours rise after trading was suspended during today’s Q2 news conference. One investment house thought earlier this month that shares could hit $300 during 2010.
Once upon a time, the analysts and industry experts were predicting nothing as different as Apple’s products could succeed. The company is now at a $50 billion run rate, something that goes along well with a No. 1 rating in most innovative companies (BusinessWeek) and the No. 38 spot in the latest Fortune 500.
Investment in Apple solutions can get looked at askance in some companies. Doing this well in the latest quarter, when Apple sold 3 million Macs in addition to its mobile products, ought to qwell any kvetching you may hear from corporate IT.
We’ll have more tomorrow on today’s Q&A between stock analysts and Cook.
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