Apple has its share of problems. Its iconic co-founder isn’t keeping well. Sales of the iPad in the quarter ended March were about 1.3 million less than expected. The firm could miss out on $200 million of revenue in this quarter because of Japan’s travails. Then there’s the fight with Samsung over plagiarism, which is shaping up to be a messy legal wrangle.
None of this bothers investors, who happily took the share up 3% after results were announced—blowout profit of $5.99 billion on sales of $24.67 billion, both close to double that of last year. Earnings were driven by more-than-expected iPhone sales. This, when the model isn’t even sold in India, among the largest and fastest growing markets for mobile phones.
Meanwhile, competition is playing catch-up on the tablet front—a shortfall in iPad sales owing to supply not keeping up with demand. Research in Motion, late to the tablet party, might like to have some of Apple’s problems.