Apple Posts Record Breaking Year

Cupertino, CA (AHN) - It was a record-breaking year for Apple in 2007 as the maker of the iPod and iPhone posted its best financial year to date.

The company's market capitalization hit $161.84 billion, more than IBM and Intel. And it became the third largest PC supplier in the U.S., with 6.3 percent of the market.

Record-breaking quarterly sales of the Mac are putting Apple into the running for a top computer-maker spot, according to market intelligence company IDC.

Apple sold 1.6 million Macintosh computers more than in any other quarter. Mac sales accounted for $2.2 billion, or 45 percent, of revenue.

Apple nearly overtook Gateway as the third-biggest U.S. computer maker, according to Gartner figures.

Apple sold 986,000 of its MacBook and MacBook Pro notebook computers, which accounted for $1.3 billion, or 27 percent of revenue during the period.

It sold 8.7 million units of the iPod, more than 2 million more than a year earlier, according to BusinessWeek.