Apple Revenues Set Record

Apple reported record quarterly revenues and profit for the first fiscal quarter of 2007, hitting $7.1 billion in sales and $1.0 billion in profits. The Retail stores generated $1.1 billion in sales, nearly the same as the holiday quarter of last year, but about double the revenues from the previous three quarters. Retail profit was down slightly to $89 million fromt he previous quarter, and did not set a new record. Macintosh sales at the stores were substantial at 308,000, but down slightly from the fourth quarter of fiscal 2006. Store visitors set a new record at 28 million, or 13,000 per store per week. Overall the company sold 1.6 million Mac computers and 21 million iPods, a 28 percent and 50 percent increase respectively over the same quarter of 2006. During a conference call with analysts, CFO Peter Oppenheimer said Apple expects to open seven stores during the current quarter, and 35 to 40 stores during fiscal 2007. Check the charts and graphs.