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Apple Profit Rises 94% On Growing Global iPhone Demand-Bloomberg

|Includes: Apple Inc. (AAPL)

Apple (NASDAQ:AAPL) beat expectations as usual earning a mind boggling $11.6 billion or $12.30 a share in their fiscal second quarter. Much of the growth came from international markets where Apple still has a really good opportunity to increase market share. The iPhone is generating 60% of revenue and the higher gross margins are having an extremely positive effect on the company. I question whether or not they can maintain these gross margins over the long term, but regardless the company is operating tremendously and should be commended.

Disclosure: I am long AAPL.