Apple’s profit rise as economic gloom hits tech
Apple Inc on Thursday revealed earnings and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by expanding cutbacks due to inflation.
The prediction for the holiday quarter was grimmer. While not providing particular numbers, Apple said earnings growth would fall below eight percent in the December quarter but did not go as far as http://Amazon.com whose dire holiday outlook sent its shares down fourteen percent or 14pc.
Apple shares initially dipped in after-hours trading but recovered in positive territory.
Apple’s profit rise as economic gloom hits tech
The Cupertino, California-based tech giant was saved by its oldest technology, its laptop computers, while its star, the iPhone, stumbled.
