Apple Surges Ahead: Shares Up 2.5% Ahead of Earnings Report

Apple has surprised Wall Street analysts by delivering a strong performance for the second quarter, the best ever in it’s history. Some were worried about rumors that the new iPhone 4 was having antenna problems that curtailed reception when held at different angles. The profitable iPhone provides about 40% of the company revenue, and the company is now making a big promotion in foreign markets.

Greater attention will now be focused on the iPad. Since launched in the United States in April, Apple has sold over three million iPads. Many stores have run out of both the iPad and iPhone 4 and are waiting for more. The company is not sure when it can restock fast enough to meet demand.

While the iPhone and iPad were making the headlines, it was an unexpected surge in sales of Mac computers that was a great help, as over 3.47 million were sold, which is 33% higher than a year ago. Sales of the iPod came in at 9.4 million units, about 8% less than a year ago.

Apple has even boasted that the current quarter will be even more profitable, which is surprising for a company with a history of conservative estimates.