Apple is continuing to defy Wall Street analysts and has posted record profits of 7.2 billion pounds for the first three months of 2012, which is up 94 percent compared to last year.

The latest results saw shares in Apple rocket over the $600 mark in after-hours trading, going up by 7%.

Apple's staggering financial results, were said to be down to massive sales of its iconic smartphone and tablet. According to iPhone, sales were up 88 percent to 35 million, while iPad sales did even better, up a whopping 151% to 11.8 million sold– thanks mainly to the launch, of the new iPad.

One negative note for Apple however was the sales of iPods which were down 15 percent year-on-year to 7.7 million units.

Apple now has 110 billion dollars of cash on its balance sheet and is expecting the current quarter is going to be even better, predicting revenue of 34 billion dollars.