Apple's success helps power economic recovery

A recent cover story in Newsweek magazine proudly proclaimed, America's back!  The article referenced the success of companies like Apple as evidence of our economic turnaround.  However, I must admit I was more than a bit skeptical.

This morning on my way into work I listened to a story on NPR about Apple's record increase in net income for the first quarter (their fiscal 2nd quarter) of 2010 which does not include iPad sales.

Apple shares rose $14.68, 6 percent, to $259.27 in morning trading Wednesday. Earlier they hit $259.85, a new all-time high.

I wonder what next quarter's earnings will look like when they count all the iPad revenue?  Maybe we are on our way back after all......