Apple’s stock price surged past $400 for the first time, after record sales of iPhones and iPads pushed third-quarter profit beyond estimates. Net income during the period was $7.31 billion ($7.79 per share), which is more than double of last year’s $3.25 billion ($3.51 per share). This was helped by iPhone sales in China, where total revenue jumped sixfold to $3.8 billion.
Overall sales jumped 82 percent to $28.6 billion. Analysts had predicted a profit of $5.87 per share and a revenue of $25 billion. Apple sold 20.3 million iPhones and 9.3 million iPads in the third quarter, which ended June 25. Mac computer sales were 3.95 million
Having overcome supply shortages for the iPad 2 after its March debut, saw sales of the iPad soar, reported Adam Satariano of Bloomberg. The tablet is now Apple’s second-largest source of revenue – behind the iPhone – less than two years after its initial launch.
After the results were released, Apple shares shot up 7.5 percent to $405 in extended trading. The stock is up 17 percent this year.
The report eased investors’ concerns that sales would suffer from the lack of a new iPhone, which isn’t expected until September. The Cupertino, California-based company also has been operating without the day-to-day attention of Chief Executive Officer Steve Jobs, who has been on medical leave since January.
Apple’s results assuaged worries by investors that sales would suffer because a new iPhone will only be available in September. Its foray into China and other fast-growing economies helped compensate slower growth in the U.S. Sales in China, Taiwan and Hong Kong accounted for $8.8 billion in the first three quarters of the fiscal year, Apple revealed.
The Wall Street Journal has cited unmamed sources familiar with the issue that since Jobs went on leave, some members of Apple’s board have discussed CEO succession with executive recruiters. The talks included at least one head of a high-profile technology company, the Journal added.
The results also substantiated the belief that tablets are cannibalizing sales from traditional personal computers. Apple claims that 86 percent of Fortune 500 companies are testing or deploying the iPad, and disclosed that sales of the tablet beat those of the Mac computer among primary and secondary schools.
![Plenty of expansion possibilities for the Mac mini.](http://images.apple.com/macmini/images/design_possibilities.jpg" "Plenty of expansion possibilities for the Mac mini.")
The Thunderbolt display is a 27-inch IPS widescreen display that will enhance the experience for making FaceTime HD video calls, surfing the Web and viewing movies and photos.
With a 16:9 edge-to-edge glass design, the Thunderbolt Display uses IPS technology to provide a brilliant image across a wide 178 degree viewing angle. Any Thunderbolt-enabled Mac notebook can dock with the display to quickly and easily replicate a full-fledged desktop solution.
Featuring two bi-directional channels with transfer speeds up to a blistering 10Gbps each, each Thunderbolt port delivers PCI Express directly to external peripherals such as high performance storage and RAID arrays, supports DisplayPort for high resolution displays and works with existing adapters for HDMI, DVI and VGA displays. Data transfer for Thunderbolt is up to 12 times faster than FireWire 800 and up to 20 times faster than USB 2.0.
MacBook Air is available in compact 11-inch and 13-inch models that feature a durable aluminium unibody enclosure measuring only 0.3 cm at its thinnest point and 1.7 cm at its thickest. Flash storage allows MacBook Air to turn on instantly and deliver fast data access, improved reliability and energy efficiency.
The Multi-Touch trackpad supports Lion’s new Multi-Touch gestures such as momentum scrolling, tapping or pinching your fingers to zoom in on a web page or image, and swiping left or right to turn a page or switch between full screen apps.
MacBook Air also features a thin but brilliant, high resolution LED backlit display. Ultra-fast Wi-Fi, enables wireless download of apps from the Mac App Store, data back-up to Time Capsule and quick and easy file sharing using AirDrop. MacBook Air includes Bluetooth for wireless peripherals and two USB ports for easy connectivity for wired and wireless devices.
The OS X Lion Up-to-Date upgrade will be available through the Mac App Store at no additional charge to all customers who purchased a qualifying new Mac system from Apple or an Apple Authorized Reseller on or after June 6, 2011. Users must request their Up-to-Date upgrade within 30 days of purchase of their Mac computer. Customers who purchased a qualifying Mac between June 6, 2011 and July 20, 2011 will have until August 19, 2011 to make a 
The product portfolio includes watches, sunglasses, luggage, electronic products, a line of fragrances for men as well as a sport and fashion collection.
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