Apple, the world’s most valuable company, is trumping skeptics once again by reporting blow-out iPhone sales. Apple says it sold 35 million iPhones in its most recent quarter, almost twice as many as it sold a year earlier.
Apple shares fell before the markets closed and the company reported its earnings because investors believed phone companies had reined in iPhone sales.
Net income in the fiscal second quarter, which ended in March, was $11.6 billion, or $12.30 per share. That was nearly double the net income of $6 billion, or $6.40 per share, a year ago.