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Apple rides iPhone frenzy

from The Wall Street Journal

Apple Inc.'s quarterly profit nearly doubled as iPhones and iPads continued to fly off shelves, putting to rest recent worries that the company can't maintain its momentum. Shares recently gained more than 7 percent, or $40.55, to $600.83 in after-hours trading — after falling in 10 of the past 11 regular trading sessions amid concerns about a potential iPhone slowdown. Instead, iPhone shipments jumped 88 percent in the quarter, as Apple continued to penetrate new markets like China. more


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