Apple Stock Continues to Rise in 2009
Thanks to their growing number of hardware sales, Apple Australia can expect another more than healthy upsurge in profits. The iPhone phenomenon that swept the globe last year is beginning to calm down, with the multi function gadget being last year’s ‘must have’ item. Thanks to the ever growing number of applications, which are now in the thousands, the iPhone’s worldwide success looks likely to continue into next year and beyond, though probably not with the same number of unit sales.
But it’s not just iPhones that are having a big say in Apple’s turnover (if you’ll pardon the pun!). Sales of all things Mac, particularly their computers, are on the rise, and it’s these sales that have really pushed Apple profits through the roof. Apple’s figures have more than doubled this year and are not far from matching their all time high, once again smashing profit expectations for the second year running. The market is now so used to Apple beating Wall Street estimates, that nearly 20 city analysts are lifting price targets again!
Hudson Square Research analyst, Daniel Ernst, said -
The driver is if the iPhone keeps selling well. Mac is a huge part of the company and I think it’s going to get better next year, so while there may be some risk in the iPhone sales for the quarter, people will take some solace in that the Mac sales are pretty strong.
Apple has now beat Wall Street estimates in EVERY quarter for the past two years, with the company still managing to outperform it’s competitors even with the global credit crunch. The economic downturn was expected to cut sales of expensive products, but Apple continue to increase sales every year without having to lower prices. It’s quite obvious that when it comes to quality, consumers know what they want, and are prepared to pay for it.
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