In the middle of the iPhone 4 crisis, Apple seems to think that it is about to announce that its profits have doubled.
Analysts are predicting that profits will rise thanks to demand for the iPad toy and early sales of the rubber band powered iPhone 4. Estimates are that Apple may say net income in the fiscal third quarter surged to $2.87 billion. Bloomberg has been running around asking analysts and has added up the numbers and divided by its shoe size and come up with the figure.
A year earlier, the company said profit rose to $1.23 billion. This means that despite making a product that no one knows what it does, or is broken, Apple's revenue surged 76 percent. At the moment Apple's stock is falling as it has become clear that Jobs Mob is going to do nothing meaningful about the broken iPhone 4.
Consumer Reports said it couldn’t recommend the device because of the flaw, the first time the watchdog hasn’t given its imprimatur to an iPhone. At a press conference last week, Apple said less than a percent of users have reported the glitch to its customer service centres. But since it is pointless reporting something that everyone knows about and is waiting for Apple to fix, that is not really an argument.
Still the profit indications show that there are people will buy a dog turd if there is an Apple logo on it.