Apple Blows Away Estimates (AAPL)

Apple Inc. AAPL reports Q1 earnings of $6.43 versus estimates of $5.38. Apple Inc. reports Q1 revenues of $26.74 billion versus estimates of $24.38 billion. Apple sold 16.2 million iPhone, 4.13 million Macs, 19.54 million iPods and 7.33 million iPads, which all blew away estimates, except for Mac sales, which were inline. Apple sees Q2 EPS of $4.90 on revenues of $22 billion. Wall Street had expected earnings of $4.43 per share on revenues of $20.62 billion. Gross margins were 34.7%, which were better than expected. Apple designs, manufactures, and markets personal computers, mobile communication and media devices, and portable digital music players, as well as sells related software, services, peripherals, networking solutions and other devices. Shares are currently halted. Last trade was up $1.55 to $342.23, a gain of 0.5%.