Apple’s Halo Continues to Glow
Well, guess what? Apple is apparently immune to the recession. Apple announced earnings after the closing bell today and reported a quarter with the highest quarterly revenue in company history. Revenue rose to above $10 billion for the first time and net income is at $1.6 billion. 
Ok, it’s one thing to do well in a bad economy, but to report the highest revenue ever in company history? Seriously? Earnings per share for this quarter is $1.78, easily beating analysts’ estimate of $1.39 per share. Wow.
This is definitely very good news, not only just for Apple investors, but for the broader market. It shows that there are still pockets of hope. Apple’s stock soared almost 10% after hours and is now just above $90 mark. That’s still a lot lower than what Apple was trading at a year ago, but hey, it’s better than nothing.
Tomorrow, it’s Google’s and Microsoft’s turn to report earnings. The general sentiment in the market is that they won’t be doing as well as previous quarters and Microsoft is expected to announce layoffs. We will see what happens. Stay tuned.
