News / Science & Technology

Apple Reports Record Profits in 4th Quarter

Apple Chief Executive Officer Steve Jobs holds the new 'iPad' during the launch of Apple's new tablet computing device in San Francisco, California
Apple Chief Executive Officer Steve Jobs holds the new 'iPad' during the launch of Apple's new tablet computing device in San Francisco, California

Multimedia

Shares of technology giant Apple are set to rebound after the company announced better than expected quarterly profits.  The company's stock plunged as much as 10 percent in Europe Monday after Apple co-founder and CEO Steve Jobs announced he was taking another medical leave.

Jobs, who is 55, suffers from pancreatic cancer, and received a liver transplant in 2009.  While many remain concerned about Apple's future without its iconic leader, analysts say the short-term outlook for Apple remains strong. 

Some say Apple just wouldn't be Apple without Steve Jobs.

So it came as no surprise that Apple shares plunged Monday - after the man who built the first Apple computers in his garage in 1976 , and later - introduced the world to the iPod, the iPhone and the iPad - suddenly announced his second medical leave in two years.

New York Times technology writer Nick Bilton says the news caught many by surprise. "I think this news came out of nowhere, nobody knows what's going on or how long he's going to be gone for. I think it's a really big shock," he said.

Known for his secrecy, Jobs is a survivor of pancreatic cancer - receiving a liver transplant in 2009 after initially claiming his medical problems were the result of a hormone imbalance.  

Despite the initial hit on Monday, which saw the company lose as much as $20 billion in market value - analysts say Apple shares are set to rebound after better than expected earnings.

Apple reported a blockbuster quarter late Tuesday - with revenues up 71 percent. That means holiday shoppers snapped up more iPhones and iPads than analysts expected.  

But the Wall Street Journal's Kara Swisher questions the company's long-term future without its charismatic founder. "There is no replacement for Steve Jobs.  It's hard to find a successor to someone like him," she said.

Though Apple posted record net profits and revenue of nearly $27 billion in the last quarter, German bank analyst Oliver Roth says the company's future performance remains closely tied to its CEO. "Steve Jobs is the heart and brain of Apple and as long as nobody knows how long he will be away, the speculation in Apple will go on and that will put pressure on the stock price," he said.

Based on the latest earnings, analysts say Apple is on track to sell more than 17 million iPods, 15 million iPhones and more than 6 million iPads in 2011 - with or without Steve Jobs.

You May Like

UN Watchdog Urges Israel to Probe Possible Gaza War Crimes

More than 2,100 Palestinians, most of them civilians, were killed in a 51-day war in Gaza, along with 67 Israeli soldiers and six civilians in Israel More

New Kenyan 'Thin SIMs' Poised to Transform African Mobile Money

Equity's new technology is approved in African nation for one-year trial, though industry leader Safaricom says thin SIMs could lead to data theft and fraud More

Solar's Future Looks Brighter

New technology and dropping prices are contributing to a surge in solar power More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Talks to Resume on Winter Gas for Ukrainei
X
Al Pessin
October 25, 2014 4:21 PM
Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Talks to Resume on Winter Gas for Ukraine

Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.

All About America

AppleAndroid