Apple to report earnings today
By Hayley Tsukayama,
Having already reported record sales for the iPhone 4S, Apple is sitting pretty as it prepares to report its earnings Tuesday at 5 p.m.
It will be the first earnings call for the company since the resignation, and subsequent death, of Apple co-founder Steve Jobs, but analysts expect to hear strong sales numbers for iPhones, iPads and Macs. In July, Apple reported that it sold a record-breaking 20.3 million iPhones and 9.25 million iPads in its third quarter.
While it’s possible that iPhone sales slowed as the company prepared to released the iPhone 4S, that phone has been selling very well: Apple has already reported that it’s moved a record 4 million iPhone 4S units in its first three days on the market. Mac sales may also see a boost this quarter. Apple saw a 14 percent increase in the third-quarter, but with the release of Lion, a revamped MacBook Air and a new Mac mini, it wouldn’t be surprising to see that growth continue.
One area to watch as Apple discusses its plans for the future Tuesday will be the company’s plans in Asia, particularly in China. Demand is high — very high — in that market and the company has a lot of potential for growth.
Shares surged to well over $400 when Apple launched its latest handset last week, and stock opened today at $421.76.