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

TEXT SIZE - +

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

Photogallery Pope's Easter Prayer: Peace in Ukraine, Syria

Pontiff also calls for end to terrorist acts in Nigeria, violence in Iraq, and success in peace talks between Israelis and Palestinians More

Abdullah Holds Lead in Afghan Presidential Election

Country's Election Commission says that with half of the ballots counted, former FM remains in the lead with 44 percent of the vote More

Russia-Ukraine Crisis Could Trigger Cyber War

As tensions between Kyiv and Moscow escalate, so too has frequency of online attacks targeting government, news and financial sites 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.
Ukraine, Russia, United in Faith, Divided in Politicsi
X
Michael Eckels
April 19, 2014
There is a strong historical religious connection between Russia and Ukraine. But what role is religion playing in the current conflict? In the run-up to Easter, Michael Eckels in Moscow reports for VOA.
Video

Video Ukraine, Russia, United in Faith, Divided in Politics

There is a strong historical religious connection between Russia and Ukraine. But what role is religion playing in the current conflict? In the run-up to Easter, Michael Eckels in Moscow reports for VOA.
Video

Video Face of American Farmer is Changing

The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Donetsk Governor: Ukraine Military Assault 'Delicate But Necessary'

Around a dozen state buildings in eastern Ukraine remain in the hands of pro-Russian protesters who are demanding a referendum on self-rule. The governor of the whole Donetsk region is among those forced out by the protesters. He spoke to VOA's Henry Ridgwell from his temporary new office in Donetsk city.
Video

Video Drones May Soon Send Data From High Seas

Drones are usually associated with unmanned flying vehicles, but autonomous watercraft are also becoming useful tools for jobs ranging from scientific exploration to law enforcement to searching for a missing airliner in the Indian Ocean. VOA’s George Putic reports on sea-faring drones.
Video

Video New Earth-Size Planet Found

Not too big, not too small. Not too hot, not too cold. A newly discovered planet looks just right for life as we know it, according to an international group of astronomers. VOA’s Steve Baragona has more.
Video

Video Copts in Diaspora Worry About Future in Egypt

Around 10 percent of Egypt’s population belong to the Coptic faith, making them the largest Christian minority in the Middle East. But they have become targets of violence since the revolution three years ago. With elections scheduled for May and the struggle between the Egyptian military and Islamists continuing, many Copts abroad are deeply worried about the future of their ancient church. VOA religion correspondent Jerome Socolovsky visited a Coptic church outside Washington DC.
Video

Video Critics Say Venezuelan Protests Test Limits of Military's Support

During the two months of deadly anti-government protests that have rocked the oil-rich nation of Venezuela, President Nicolas Maduro has accused the opposition of trying to initiate a coup. Though a small number of military officers have been arrested for allegedly plotting against the government, VOA’s Brian Padden reports the leadership of the armed forces continues to support the president, at least for now.
Video

Video More Millenials Unplug to Embrace Board Games

A big new trend in the U.S. toy industry has more consumers switching off their high-tech gadgets to play with classic toys, like board games. This is especially true among the so-called millenial generation - those born in the 1980's and 90's. Elizabeth Lee has more from an unusual café in Los Angeles, where the new trend is popular and business is booming.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
AppleAndroid