With all the economic doom and gloom in the world these days, Apple executives must be wondering what all the fuss is about.
Apple's Tim Cook and Peter Oppenheimer acknowledged Wednesday that these are uncertain times to be in the retail consumer electronics business. But put aside any doubts about Apple's ability to sustain the first wave of recession. Posting record revenue and profit during its fiscal first quarter, the company shattered analyst predictions on the strength of solid Mac sales and stronger-than-expected iPod sales.
Can it last? Tough to say, given that few can predict how quickly or strongly the economy might rebound in 2009. But Apple actually improved its financial standing during what many considered to be one of the worst holiday shopping periods in generations. And that's likely to impress upon investors that Apple can hold its own even if the economy gets worse; they sent Apple's stock up 9 percent in after-hours trading following the results.
