The rumored iPhone 5 won’t be released for at least another month, but it’s coming, along with the new Mac OS X Lion operating system and possibly even a mid-priced phone for people who don’t want to fork over the big bucks for the latest iPhone gadgetry. Those are just a few of the reasons that Apple’s earnings are expected to be sky high when they are released today. The company is expected to show revenues of $24.8 billion, which translates as $5.73 a share. In contrast, the company reported $15.7 billion in revenue ($3.51 in earnings) last year at this time.
Much of this revenue is attributed to the sale of iPads and iPhones, though the company’s line of personal computers is also soaring, with 4.2 million Macs sold this quarter alone. This 28 percent growth positions Apple right behind HP and Dell in the home computer market.
Apple is now valued at $400 billion, making it second only to Exxon of all companies worldwide. Though questions about Steve Jobs’s health linger in the background, the new product line and operating system show a company well on its way to becoming the biggest in history.
Read More at the Business Journal
Read More at NBC Bay Area