Apple stock still sweet, but may sour
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Scott Jagow: Now, about Apple. The company just reported a gangbuster quarter. Sales hit $10 billion for the first time. But there’s definitely some question about whether Apple can stay on top. Ashley Milne-Tyte reports.
Ashley Milne-Tyte: Apple’s made some design updates to its products and begun selling the iPhone in more overseas markets. It all seems to have paid off. While rivals like Sony languish, consumers all over the world are still addicted to the cachet of the Apple brand.
The company sold more than $22 million iPods in the fourth quarter. Analysts had been expecting sales of around $18 million. Still, with the holiday season over, Apple is predicting a less stellar first quarter of this year.
The company recently announced its CEO, Steve Jobs, is taking a leave of absence to deal with ongoing medical problems. Now, the Securities and Exchange Commission is investigating how Apple disclosed revelations about Jobs’s health. If the SEC finds that Apple misled investors, lawyers say that could land the company in trouble.
In New York, I’m Ashley Milne-Tyte for Marketplace.
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