Apple Inc.'s fiscal fourth-quarter profit soared 47%

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Apple Inc.'s fiscal fourth-quarter profit soared 47%, surprising Wall Street and providing perhaps the strongest signal yet that technology companies may be leading the economy out of the doldrums.

Fueled by brisk back-to-school sales of its MacBook notebook computers and continued momentum of its popular iPhone, the Cupertino, Calif., company said it posted its "most profitable quarter ever."

Its earnings of $1.67 billion far exceeded analysts' expectations and were another sign that the technology sector might be a bellwether for a larger recovery. Apple's results followed others in recent weeks that have beaten Wall Street's forecasts, including Google Inc. reporting Friday that its quarterly profit jumped 27%.

"We are thrilled with these results," Apple Chief Financial Officer Peter Oppenheimer said during a conference call with analysts, "particularly given the economic environment around us."