1 / 28
People gather outside an Apple retail store on Fifth Avenue in the Manhattan borough of New York, Friday, March 16, 2012, as they wait for the 8 a.m. local time release of the new iPad tablet. (AP Photo/Jeffrey Furticella)

Apple crushes the competition

Apple said it had raked in a profit of $11.6 billion in the first three months of the year driven by record sales of nearly 35 million iPhones and iPad tablet computers.