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A week after Apple revealed record-breaking sales numbers that drove its value to new heights, the company’s fans were shown a bleaker image of Cupertino in a recently published news series. The iEconomy series paints a picture of harsh working conditions in some overseas facilities that manufacture Apple products.
Apple surprised Wall Street Wednesday when it revealed it was sitting on cash reserves of nearly $100 billion. Now the question is, what will the company do with it? Apple’s successful product lines, which include the iPhone and iPad, have been gushing bucks for months. That’s allowed it to build a sizable war chest.
Few expected Apple to slouch through the 2011 holiday season, but the numbers the company released Tuesday went well beyond the performance most Wall Street watchers had expected, reporting record sales of iPhones, iPads and Macs in Apple’s first fiscal quarter of 2012.
Apple on Tuesday revealed exactly how explosive holiday sales were for its iPhone 4S. The latest version of the company’s smartphone packed enough dynamite to double Apple’s earnings in its first fiscal quarter of the year and blow the company right past its previous sales records. The company reported a rise in net income to $13.06 billion, or $13.87 per share, compared to a net income of $6 billion a year ago.
Apple did something strange this week: It opened up and disclosed details about its suppliers, information about which the famously secretive company had until then kept mum. However, it seems much of the attention the company has received lately has nothing to do with its supply chain and everything to do with what new product or initiative the company might launch next.