Captivating performance of iPhone jacked up Apple stocks

iPhone is really a magnet for Apple to make a profit. It can be seen from the financial statements of Apple in the first quarter. Since the iPhone was launched in 2007, iPhone sales continue to rise, even in the second fiscal quarter the iPhone has sold more than 18 million units. Apple’s strategy to end the exclusivity of AT & T in sales of the iPhone by allowing Verizon to sell that smartphones is the right step.

“When the iPhone does well, it does a lot to boost the profitability of the company as a whole,” said Yair Reiner, an analyst at Oppenheimer & Co. “The iPhone is Apple’s most profitable product,” he added.

iPhone extraordinary performance also affects the price of Apple stock (AAPL). Closure of Wall Street on Wednesday show Apple stocks rose by 2.54% to $ 351.11 per share. Apple also posted a net profit of almost doubled to $ 6 billion. Apple’s annual revenues increased from $ 13.5 billion last year to $ 24.67 billion this year.

“With quarterly revenue growth of 83% and profit growth of 95%, we’re firing on all cylinders,” said Apple Chief Executive Steve Jobs. “We Will Continue to Innovate on all fronts Throughout the remainder of the year,” Steve Jobs added.

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