Apple Posts Record Quarter

While most other tech companies seem to be languishing in our current economic lull, Apple [NASDAQ:AAPL] is making headlines for posting record quarter after record quarter. The company didn't disappoint for Q3, releasing impressive numbers yesterday: record-setting revenue and profits at $7.46 billion and $1.07 billion respectively. It's important to note, too, that this quarter ended June 28, 2008, and doesn't incorporate the reportedly massive success of the iPhone 3G. Revenue was up 38% year-over-year, the company's press materials boasted, and Mac sales were at an all-time high with nearly 2.5 million units shipped in Q3 alone. Those numbers have led Apple to recently slip into the number 3 computer maker in the US market, beating out Acer and trailing Dell and HP respectively. The report also says that a significant 42% of sales were in foreign markets.

Interestingly, mercurial CEO Steve Jobs stepped out of his character of secrecy for this quarterly report and actually promised new Apple products were imminent. "We set a new record for Mac sales," Jobs said, "and we think we have a real winner with our new iPhone 3G." Normal commentary so far, but then he continued: "and we're busy finishing several more wonderful new products to launch in the coming months." Whoa. Did that really just happen?

Some commentators have suggested that Jobs is merely trying to ameliorate any investor worries; the somewhat bungled iPhone 3G launch might take it's toll on the company's share price if the kinks aren't worked out promptly. But the fanboy faithful are largely taking Steve at his word, and openly wondering what the Cupertino-based powerhouse has up its big white sleeves.

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