Apple has seen its quarterly profit almost double, rocketing past analysts' forecasts and allaying fears of limited future sales of the iPhone.
The world’s most valuable tech company saw its profits rise 94% in the fiscal second quarter.
Net income over the period rose to $11.6bn, up from $6bn last year, as sales climbed 50% to $39.2bn.
Sales of the iPad and iPhone into the Chinese market helped Apple’s stellar growth, accounting for sales rising from 12% last year to 20% over the reporting period.
Apple shares rose 7% in after hours trading on Wall Street, clawing back at least some of the 12% they have lost since 9 April.
High profile investors including John Chatfeild-Roberts at Jupiter have raised concerns the sharp moves in Apple’s share price are distorting returns for the wider US market, suggesting some indices may have to be rebalanced to lessen the tech giant’s dominance.
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