Thursday, July 26, 2007

Apple Sucks

Its stock has only increased 62 percent this year.

Apple, propelled by strong sales of its Macintosh computer, posted a 73 percent rise in quarterly profit in its report after the stock market closed on Wednesday. It also said it would sell 1 million iPhones by the end of its current quarter, and reiterated its goal of selling 10 million of the devices globally in 2008.

That triggered a strong rise in the stock in early trading Thursday, with shares up $10.49, or 7.6 percent, at $147.75 on the Nasdaq. Apple's shares had already jumped 62 percent since the start of the year, when Chief Executive Steve Jobs unveiled the iPhone.

-- reuters

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