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Apple Buoyed by Strong iPhone-driven Sales

WASHINGTON — Looks like all the naysayers and doomsday predictions are ringing hollow. Apple had a strong 3rd quarter, which was driven by iPhone sales.

apple iphone [1]Reuters reports [2]┬áthat last quarter’s sales of iPhones surpassed estimates from Wall Street as Apple saw its American shipments soar 51% and raised its stock 5% while profits decreased.

The profit margin slipped from 42% last year to 37% this year, but surging iPhone sales gave confidence to the stock market and investors. Apple is adjusting its sales strategy [3] to keep pace with Samsung. This report now eases concerns that Apple is on a downward slide, as reports from its chief rival Samsung were dismal by comparison.

Samsung overtook Apple as the world’s largest smartphone maker [4] last year with its Galaxy series, but has overloaded the smartphone market. Now BlackBerry (formerly Research in Motion or RIM), is struggling to re-enter [5] the smartphone market after spending years to redevelop its BlackBerry phones.