As the whole world succumbs under recession, Apple Inc. powers through the economically crushing times as consumers continue to snap up the company's iPhones and Macintosh Computers. The firm posted a 47% quarterly profit jump and also sent out an upbeat note for the holiday season.

Despite hordes of new competition in the smart phones and PC market, Apple continues to rule. The company's shares have surged more than 6%, eclipsing $200. The California based company has managed to shock investors all over the world with its steadily increasing profits in times when other companies are selling cheaper notebooks and cutting costs.

Apple sold 7.4 million iPhones in the quarter ended Sept. 26, up 7% from a year ago and 41% more than the previous quarter, bucking concerns of a supply constraint. The firm also sold 3.1 million Macintosh computers in the quarter, up 17% from a year earlier.

Wall Street has feared that expectations for Apple's earnings could leave investors disappointed, the results have been much better than even the most optimistic expectations. "I'm shocked," admits Kaufman Brothers analyst Shaw Wu.

Overall, Apple reported a fiscal fourth-quarter profit of $1.67 billion, or $1.82 a share, compared with $1.14 billion, or $1.26 a share, a year earlier. Its gross profit margin rose to 36.6% from 34.7% a year ago. Revenue increased 24% to $9.87 billion from $7.9 billion a year earlier.

Apple's strong results can also be taken as an indication that the overall consumer spending is recovering. Intel Corp. and Google Inc. have also posted positive earnings recently.

For the current quarter, Apple's forecast for earnings and profit were less conservative than in the past. The company projected per-share earnings of about $1.70 to $1.78 with revenue between $11.3 billion to $11.6 billion.