Despite initial mediocre reviews of the iPhone 4S and iPad 2, Apple had an astonishing fourth quarter and year in general. With over 37 million iPhone sales in the fourth quarter, Apple has also regained the number one spot in brand listing according to General Sentiments. Apple and Google have been switching spots this year, but Apple closed the year off strong. According to Bloomberg.com, Apple Inc. (APPL) shares climbed 6.2 percent to $446.66 and their strong 2011 fourth quarter netted $13.1 billion in profits. This is the highest record profit since Exxon Mobil Corp. (XOM) and Russia’s Gazprom OAO (OGZPY) whom are energy companies.
Apple has a market value of around $416 billion and has an effective business model that continues to top projections, even after the death of former CEO Steve Jobs. Operating CEO Tim Cook mentioned that numbers could have been higher if Apple could manufacture iPhones faster in response to the demand.
With the expected iPad 3 release in March, we are excited to see what Apple has cooked up for 2012.