Apple Doing Well Despite Bad Economy

While unemployment rates continue to jet into the sky and Universities cut back on budgets due to poor global economic health, Apple is in fact smiling all the way to the bank. The company is completely unperturbed, business-wise, by the global economic meltdown. Recently, the company announced record iPhones and Mac Sales this quarter making it the most profitable quarter ever for Apple.

This quarter, Q4 2009, the company made revenue of $9.87 billion and a net quarterly profit of $1.67 billion. Gross margin stood at 36.6 percent, up from 34.4 percent last year.

The company regards Google Android as the biggest iPhone competitor this holiday season, but they are confident iPhones will continue to emerge as the victor. In addition, the company has some other products in the pipeline for 2010.

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-By Dominic

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