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By Jeremy Glaser | 04-22-2009 06:00 AM

Apple's iPhone Sales Continue to Impress

Rick Hanna reviews Apple's second quarter results, the future of the iPhone business, and the potential for greater international Mac penetration.

Securities mentioned in this video
AAPL Apple Inc
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Jeremy Glaser: I am Jeremy Glaser with Morningstar.com. And, I'm here today with Rick Hanna. Hi, Rick. Thanks for joining me.

Rick Hanna: Hi, Jeremy. Thank you.

Jeremy Glaser: Rick's our Apple AAPL analyst, and I have a few questions about the earnings that were just released. So, Rick, what did you like and did you not like this quarter?

Rick Hanna: Well, one, it's another iPhone strong quarter. So this is basically the third quarter in a row that that's really been the engine that's driving the Apple car. The results there were just spectacular. They were solid. They sold 3.8 million iPhones, double what they sold last year.

But probably more importantly, you know, there is a product life cycle. So the first quarter that there are out, they have a big sale, and then it kind of slows down. But the slowdown this quarter versus last quarter was at a less rate than last year. So, it's kind of showing that the new 3G has a little bit more staying power.

In particular, it's showing strong in the international markets, which that bodes extremely well for the company, because with the Mac business, as an example, it's not as strong internationally. The iPhone becomes a great Trojan horse, if you will, for the international markets to experience the Apple brand.

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