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Apple reports 70% profit growth 29 July 2007
Apple reported it shipped a record-high 1,764,000 Macintosh computers in the recent quarter, a 33 percent increase from the number it shipped in the same quarter in 2006. Apple also sold more than 9.8 million iPods, a 21-percent increase from the year-ago quarter. Apple shares declined on Tuesday on news from AT&T that it activated 146,000 iPhones between June 29 and 30, less than analysts had expected for that product’s first weekend sale. But CEO Steve Jobs said the “iPhone is off to a great start” and that Apple hopes to sell its 1 millionth iPhone by the end of this quarter. Apple’s stock price reclaimed some ground in after-hours trading that followed the release of the earnings report. |
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