Despite the hype over Apple Inc.'s new iPhone, it was the company's Macintosh computer that fueled quarterly gains. A record 1.76 million Macs were sold in the fiscal third quarter, up 33 percent from last year. Apple raked in $818 million, or 92 cents per share, for the quarter.
Gene Munster, a senior analyst at Piper Jaffray, said the news should focus investors on what really matters at the California computer and software company.
"They gained more market share than they have in years," Munster said, "getting themselves to 3 percent of the global market, the most in 10 years."
Sales of iPods were strong, as well, up more than 20 percent. With respect to the iPhone, only 30 hours worth of sales are reflected in the quarterly results, when 270,000 were sold.
While some analysts had predicted much higher numbers, Apple Chief Operating Officer Tim Cook told a conference call audience that it was great start for the iPhone.
"However, our primary focus is not on initial sales," Cook said. "We 're focused on building a third great business for Apple for the long term."
It took Apple nearly 7 quarters to reach 1 million iPod sales. But the company expects to sell its millionth iPhone by the end of September. And it hopes to sell 10 million in 2008.