Apple shares rocket as profits smash Wall St forecasts

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...