Apple posts record profits for Q1 2012

Apple yesterday posted it’s Q1 results and saying they were impressive is probably understating them a little. They reported net income of $13.1 billion in the period that ended Dec. 31 ranked among the highest quarterly profits on record with 37million iPhones sold during that period. Apples share price soared by almost 12 percent to $468.95 in extended trading. To put it another way Apple now has almost 100 billion in cash to spend (which it’ll need to to continue growth of this magnitude). Maybe we could persuade them to pay down Ireland’s national debt to pre 2008 levels 🙂 We can only hope!! Tim Cook (pictured above), the new CEO, will be able to realise himself some of that value when he’s allowed to sell about 100million in shares as part of his bonus. With these results Apple are in the same league as Exxon Mobile oil company and no matter what Google and it’s Android partners say about who sells more phones, it’s clear Apple is where the real profit is at.