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

Scotland Vote Raises Questions of International Law

Experts say self-determination, as defined and protected by international law, confined narrowly to independence movements in process of de-colonization More

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

Conservationists hail ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015 More

Annual Military Exercise Takes on New Meaning for Ukraine Troops

Troops from 15 nations participating in annual event, 'Rapid Trident' in western Ukraine 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.
Russian Economy Reeling After New Western Sanctionsi
X
September 18, 2014 2:28 AM
A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia's aggressive stance in eastern Ukraine. But as Mil Arcega reports, the sanctions could also prove costly for European and American companies.
Video

Video Russian Economy Reeling After New Western Sanctions

A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia's aggressive stance in eastern Ukraine. But as Mil Arcega reports, the sanctions could also prove costly for European and American companies.
Video

Video Belgian Researchers Discover Way to Block Cancer Metastasis

Cancer remains one of the deadliest diseases, despite many new methods to combat it. Modern medicine has treatments to prevent the growth of primary tumor cells. But most cancer deaths are caused by metastasis, the stage when primary tumor cells change and move to other parts of the body. A team of Belgian scientists says it has found a way to prevent that process. Zlatica Hoke has more.
Video

Video Mogadishu's Flood of Foreign Workers Leaves Somalis Out of Work

Unemployment and conflict has forced many young Somalians out of the country in search of a better life. But a newfound stability in the once-lawless nation has created hope — and jobs — which, some say, are too often being filled by foreigners. Abdulaziz Billow reports from Mogadishu.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.
Video

Video China Muslims Work to Change Perceptions After Knife Attacks

China says its has sentenced three men to death and one woman to life in prison for a deadly knife attack in March that left more than 30 dead and 140 injured. Beijing says Muslim militants from China's restive western region of Xinjiang carried out the attacks. Now, more than six months after the incident, residents in the city are still coping with the aftermath. VOA's Bill Ide has more from Kunming.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid