Apple Harvests Record Profit

A late surge in holiday iPod sales boosted Apple quarterly revenue and profits to a record high, reports the Los Angeles Times. Wall Street analysts had predicted a slump of up to 18% in Apple sales, but despite the recession, the company is reporting $1.61 billion in profits on increased revenue of $10.2 billion. Apple shares rose 6% to $82.83 in regular trading, then jumped another 10% after hours. (More Apple stories.)