Apple earnings report had some impressive sales numbers: a 94 percent profit increase over last year, and huge profits on iPad and iPhone sales. A lot of the growth is coming from Asian markets, and Apple earnings are expected to expand there in months to come.
Apple is sailing strong with Tim Cook at the helm. At its earnings call on Tuesday, Cupertino announced higher-than-expected revenue -- driven by a seemingly limitless market demand for iPhones and iPads.
Apple posted a record $39.2 billion in revenue and $11.6 billion in profit for the quarter ending March 31st -- almost doubling its profit from the same quarter last year. The company stock dipped before the announcement due to fears that iPhones weren't selling well, but then rose in after-hours trading by more than $40, to just over $600 per share. Put simply, investors were nervous that Apple might have lost some of its mojo -- but the numbers tell a different story.