Apple Posts Record iPhone, iPad Sales

While one of its main competitors attempts to calm investors about rapidly declining sales, Apple has posted some of its most impressive numbers to date. According to reports, Apple's net income was more than $7.3 billion in the third quarter, an increase of 125 per cent over last year.

Many tech blogs have been closely following BlackBerry maker Research in Motion's steady decline over the past year. The company recently made a valiant effort to convince investors that all was well, but not everyone is convinced the Waterloo, Ontario-based company is out of the woods. Some of the most direct criticisms have come from the firm's own employees.

Big Sales Jump Based On iPad, iPhone Popularity

On the flip side, Apple says it's sold more than 20 million iPhone smartphones, in addition to just over 9 million iPads in the third quarter of 2011 -- a record quarterly profit for the firm. Although the company also reported a slide in Mac computer sales, Apple is clearly happy with the news. (Source: latimes.com)

"We are extremely pleased with our performance," said Apple chief financial officer, Peter Oppenheimer. "Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 [billion]." (Source: bbc.co.uk)

Sales are going so well, in fact, that Apple headquarters in Cupertino, California recently revealed plans for a massive new headquarters.

One thing Apple fans have to look forward to is the release of Lion, the company's new Mac OS X operating system. It goes on sale this Wednesday, and should prove a big financial boost for a company already seeing impressive profits.

Jobs' Future, Health Status Remains Unclear

About the only big concern for Apple moving forward seems to be the health status of its popular CEO, Steve Jobs. Not long ago the Wall Street Journal reported rumors that Apple board members had been exploring a replacement for Jobs, but that no decision had yet been made.

Still, while leadership concerns could lead to a slight slide in Apple's stock value, it's unlikely its success in the tablet and smartphone markets is about to change any day soon.