Apple Inc.’s quarterly profit more than doubled as surging demand for the iPhone and iPad cemented its role as the most valuable technology company and ramped up pressure on rivals Google Inc. and Samsung Electronics Co.
Net income of $13.1 billion in the period that ended Dec. 31 ranked among the highest quarterly profits on record, putting Apple in the same league as energy companies such as Exxon Mobil Corp. and Russia’s Gazprom OAO, data compiled by Bloomberg show. Per-share profit of $13.87 for the period was more than Apple earned in any full year before 2011.
The king is dead. Long live the king.
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