Apple profits down 22%

Although Apple's iOS developers in China have risen rapidly (now 500,000 - 70% year on year growth), iPad sales have started to slow. The profit has taken a downward trend this quarter by 22% although this is better than analysts predicted.

Presently, Apple shares have risen sharply in after-hours trading from $419 per share to $435.

"We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services," Tim Cook, Apple CEO.

This lower profit quarter was expected, due to the fact that no new Apple devices have been launched, with the exception of the MacBook Air. This makes it the first time in years since Apple have gone consecutive quarters without a new iOS product announcement.

Current predictions are for a busy end of year for Apple, with guesses that an iPad Mini with Retina screen could start shipping in October, and a possible new product category opening with the now Apple trademarked, iWatch.