Apple Inc iPhone
SAN FRANCISCO – Apple Inc’s profits and sales streaked past Wall Street’s forecasts as iPhone and Mac sales hit quarterly records, sending its shares rocketing to all-time highs on Monday.
Sales of Apple’s Mac computers jumped 17 percent from a year earlier to 3.05 million in the September quarter, above analysts’ average forecast of roughly 2.8 million.
Apple sold 7.4 million iPhones, up from 6.9 million a year ago, and just shy of expectations of 7.5 million units. Some analysts had thought the company was having a tough time making enough iPhones to meet demand.
“These are huge numbers tonight. Apple is probably the best growth story in tech, maybe one of the best growth stocks in the market. I bet this stock can go to $250 in six to nine months,” said Jane Snorek, analyst at First American Funds.
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