Apple defies the economic downturn to post a record profit

So this has to be one of the most puzzling earning reports of the year. While Google does its first lay offs and shuts down a sleuth of products and services; Microsoft posts an 11% decline in revenue, and prepares to lay off some of its workforce; Citibank is busy posting a record loss of US$8 billion even after the government bailout; but our favorite Apple defies all odds and posts a record profit of 1.6 billion dollars in the last fiscal quarter on a record 10 billion dollar revenue.

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In the process, Apple sold over 4.4 million iphones and 2.8 million ipods. It seems people can live without a job, but cant without their iphones.

So what is so special about Apple that Yahoo, Google, Microsoft and all others cant copy. What is it that this little enterprise out of California keeps surprising people, even during a worldwide depression? It could only be one thing, Steve JobsSteve Jobs. One man, has made the difference. His “insanely great” products keeping wooing the customers into shops and Apple keeps raking in dollars.