Apple Education Sales Beat Estimates

Apple reported strong numbers during its fourth quarter investor conference call on Wednesday, which led to Education sales above market projections. The higher Education market saw a 49 percent year over growth rate for Mac portables, helping the overall 20 percent growth rate for the Mac.

The higher than expected portable sales numbers were attributed in part to the popularity of the MacBook in the higher Education market along with a "very successful back to school promotion."

IDCis most recent published forecast for the Education market targeted sales significantly below Appleis reported numbers.

Apple reported a record fiscal fourth quarter and record year. It posted US$4.84 billion in revenue and a $546 million profit, compared to $430 million in the fourth quarter of 2005. 1.61 million Macs were sold in the quarter, representing a 30 percent increase compared to the same quarter last year.

Apple stock is currently trading at $74.43, up 0.24 (3.77%).

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