Apple Reports Profit Jump, But Stock Drops
Apple, Inc. on Monday reported quarterly earnings that jumped 31 percent over the same period the year before, on the strength of iPod and computer sales, the AP said.
The company sold 2.5 million Mac computers in the third quarter, its most ever. They company also said they expect to meet the goal of selling 10 million iPhones in the current fiscal year. Apple hinted at the upcoming release of “state of the art new products,” which are expected to include a new Mac lineup.
However, the company’s stock dropped later in the day after Apple delivered a soft guidance. In addition, the company’s CFO sidestepped questions about the health of chief executive Steve Jobs, calling Jobs’ health “a private matter.”