Apple Flies Past Profit, Sales Targets

NEW YORK (TheStreet) -- Apple(AAPL) blew past targets with strong iPhone and Mac sales.

The Mac maker posted $3.51 per share, up from the profit of $2.01 in the year-ago period and well above analysts' estimates calling for earnings of $3.11, according to Yahoo! Finance.

Sales for the fiscal third quarter ended last month were $15.7 billion, up nearly double from the $8.34 revenue lever last year, and a whopping $1 billion above analysts' estimates calling for sales of $14.7 billion.

Apple sold 8.4 million iPhones. Optimists were hoping for 9 million, but the consensus estimate was 8.3 million. Sales of the iPad were 3.27, in line with expectations, while 3.47 million Macs were sold -- above the 3.2 million anticipated pace for the quarter.

Apple shares have dropped 12%, wiping out $33.3 billion in market cap in the past month amid iPhone sales concerns and the faulty antenna that's become a national curiosity.

--Written by Scott Moritz in New York.

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