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Apple Q1 Profits Soar

APPLE'S PIECE OF THE PIE: Apple announced record revenue of $26.74 billion and net quarterly profit of $6 billion for the first quarter of 2011 ending Dec. 25, 2010. These results compare favorably to revenue of $15.68 billion and net quarterly profit of $3.38 billion, in the year-ago quarter. Gross margin was 38.5% compared to 40.9% last year. International sales accounted for 62% of the quarter’s revenue. Apple sold 4.13 Macs during the quarter, a 23% increase, 16.24 iPhones, representing 86% unit growth, 19.45 million iPods, a 7% decline, and 7.33 million iPads during the quarter. Now if only Steve Jobs gets well. (1/18p)

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