Apple Profits Soar

Technology company Apple has today announced a growth in profits over the last quarter of 2007, seeing a 57% growth in its bottom line as a result of growing demand for the iPhone and its Mac computer brand helped propel the company forward inspite of weak consumer market conditions.

Following the high-budget launch of the iPhone last year, the company has sold some 2.3 million units and increased earnings from $1 billion to $1.58 billion in the space of the year, reflecting the growing nature of the company and its luxury consumer technology brand.

Likewise ongoing strong sales in its iPod product lines have helped the company see growing revenues inspite of the credit crunch and underlying problems with consumer spending that have seen other consumer brands struggle over the end of 2007 and into the new year. With 22 million iPods sold during the Christmas period, Apple looks set to continue to improve its sales performance in spite of the downturn in economic health.

However Apple have expressed concern as to their performance over the next quarter, which it is thought will be less than initially anticipated as even the Apple superbrand begins to feel the heat from tighter consumer spending and weakening consumer confidence across the board.

Indeed certain analysts have suggested Apple’s earnings could now have peaked as a result of the wider economic confidence crisis which could soon have a further knock-on effect on consumer spending.

Meanwhile the launch of the Mac Book Air is thought to be a strong benefit for the Apple brand, and it is expected that the product will prove to be a similar success to the iPod and the iPhone over the next twelve months, provided the consumer market remains stable in spite of the macroeconomic shift.

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