Wednesday, October 12, 2005

Wed - iPod and Nano drive Apple profits

Strong sales of Apple's iPod portable digital music player and strong demand for the miniature Nano player launched a month ago helped Apple quadruple fourth-quarter profits.

Nevertheless, Apple's share price tumbled due to a general disappointment in overall sales figures and Ipod shipments, as well as thanks to a general sell off of technology stocks due to concerns about earnings statements going forwards.

Mind you, Apple sold 6.45M Ipods in the last quarter as well as 1.24M Macs. The underlying fundamentals for Apple going into the key Christmas buying season look pretty good to me. And, what are Apple announcing today - a video Ipod??

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