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"Apple (AAPL, $213.35, 10.28), a holding in our model portfolio, delivered another blowout quarter, though the results were enhanced by a change in the way the company accounts for iPhone and AppleTV revenue," notes Geoff Seiler.
In his BullMarket.com advisory, he explains, "Even without the accounting change, Apple reported strong sales across its product line. It sold 8.7 million iPhones during the quarter, 3.36 million Macs, and 21 million iPods.
"The bottom line was that Apple reported a 50% increase in profits for the quarter ended December 26th. It earned a record $3.38 billion, or $3.67 per share, compared to $2.25 billion, or $2.50 per share, in the year-ago period.
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