Mobile apps to boost Apple

IT World.

In an interview with Bloomberg, Colony predicted Apple will increase revenue by at least 50% annually over the next two years, thanks to ravenous consumer demand for mobile applications, which in turn will fuel demand for devices such as the iPhone and iPad.

Apple's sales increased by 52% to $65.2 billion in its 2010 fiscal year in large part due to the huge success of the iPad tablet.

However, eWeek reports that Colony also warned that a permanent departure by CEO Steve Jobs could darken Apple's rosy picture: “Remember, every two years, they have to fill that store with new stuff... without Steve Jobs as the CEO, I think it will be much harder for them to do that.”

Apple continues to dominate the mindshare, if not the market, for many mobile devices such as tablets.

While the company has not yet released official sales figures for its iPad 2's first weekend of release, a selected number of analysts believe the company sold 500 000 to 600 000 units.

According to The Business Journal, Apple is the number one technology company in the world, by market cap, and trails only Exxon Mobile among all industries by that measure.