Apple UP. Yahoo! DOWN.
This week saw 3rd quarter results announcements from many companies including Apple and Yahoo!.
While Yahoo! were announcing a 10% workforce reduction, a 64% drop in profits, and an overall goal to cut expenses, Apple were showing optimistic results for the 3rd quarter that ended in September 2008.
Apple, along with its iPhone, is now considered to the be 3rd largest phone distributor behind Nokia and Samsung. Additionnally, iPod and Mac sales were still going strong, and as a result, Apple posted net quarterly profit of $1.14 billion, or $1.26 per diluted share.