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Stock Analyst Update

Apple's Quarter Sweet to the Core

Earnings were far better than expected, and Steve Jobs is flying high--literally.

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Apple’s resurgence in the PC industry certainly isn’t news, but this quarter was different from many in the past.

Over the past year, Apple has gained favor by gradually returning to profitability. This quarter, though, growth was the story for Apple. The main reason that earnings came in at $0.11 per share, or 12% better than expectations, was that Apple’s sales grew by an impressive 75% over last quarter and 37% over the same quarter last year.

Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.