Apple Delivers Monster Quarter

How much is enough for Cupertino? With another record setting quarter, fueled by the unrelenting consumer demand for iPhones and iPads, Apple outpaced Wall Street expectations with room to spare (predictions: $5.85 a share, revenue $24.99 billion; actual results: $7.79 per share, revenue $28.57 billion). Even with declining iPod and less than expected Mac sales, the company continued its string of breakout results on the strength of iPhones (20.34 million sold during the quarter) and iPads (9.25 million, up 183% compared to Q3 2010). The bottom line? With Apple on its winning streak, Android nipping at its heels, and new products on the horizon from Hewlett Packard, Microsoft, and RIM, homes will be filled with new and varied networked devices. Will the telecom industry keep up?

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