Ina Fried

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Apple’s Record iPhone and iPad Sales Beat Expectations

Apple had suggested it expected record quarterly iPhone sales, but the numbers it released on Tuesday blew past what analysts had expected.

The company said it sold 37 million iPhones, up 128 percent from a year ago, with 15.4 million iPads sold, also more than double sales of a year ago. Mac sales were up 26 percent, to 5.2 million.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” CEO Tim Cook said in a statement. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

That said, Apple gave its usual extra-cautious outlook, predicting a significant dropoff in revenue and earnings. CFO Peter Oppenheimer said to expect revenue of about $32.5 billion and per-share earnings of about $8.50.

Apple shares, which had dipped a bit ahead of the earnings report, have surged in after-hours trading, changing hands recently at $458 a share, up $37.59 or nearly 9 percent.

We’ll have more when Apple’s earnings conference call starts in about 20 minutes.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work