With more than 85,000 apps readily available for download to more than 50 million iPhone and iPod Touch users worldwide, Apple has announced that the revolutionary App Store have scored more than two billion downloads in just over a year.

Apple has posted its latest financial report for the quarter ending June 27th earlier today, and the execs are more than happy to report that they've sold over 5.2 million iPhones in that quarter, racking up US$ 8.34 billion in revenue. More after the jump.

In 12 months alone, Apple's App Store has already hit 1.5 billion downloads for applications, the tech company proudly announced today via press release. With 65,000 apps available all over the world, and millions of iPod and iPhone users, this really comes as no surprise. Still, that number is amazing.

Apple released a press wire yesterday proudly proclaiming that they have already sold over one million iPhone 3GS models only three days after its launch. Apart from that, six million customers have been said to have downloaded the new iPhone 3.0 software only five days since its official release.

A Chinese website is calling it: there will be a new iPhone come June of this year, and it's gonna be model "MB717LL". Website WeiPhone is claiming that this model will be sporting a whopping 32GB of storage.

Like they say, once you're at the top, there's nowhere to go but down. In Shigeru Miyamoto's case, he went down quite a bit. After being at the top of Time 100 last year, the Nintendo gaming mastermind drops to #42 of Time Magazine's list of the 100 most influential people from various fields and industries. So who else made it to the list? Find out after the jump.

Controversy erupted when the Apple App Store put up an app called Baby Shaker, a simple app that requires one to shake a digital baby dead to stop it from crying. After sparking outrage from various parties, the app was immediately taken down from the site, followed by an apology from Apple. The app's developer, Sikalosoft, also issued an apology, if you could call it that. More in the full article.

It's a rather skimpy update for this week, but at the very least it's a been entertaining. From ups and downs, saying yes and no, what's hot and what's not, who's in and who's out - gee, it reminds me so much of that Katy Perry song...

It's been three months since Steve Jobs announced that he will be taking time off till June because of health issues. Since the father of iPod got off his feet to focus on his health, COO Tim Cook took over to see over the day-to-day operations of the company. However, it seems that Jobs just can't keep himself from being on the job. A report from the Wall Street Journal has revealed that Jobs does remain "closely involved" in the key aspects of running the company.

Worrying Apple users and investors alike, Steve Jobs took a 6-month medical leave of absence a few days ago due to health issues. Although the homefront is still being quiet, other doctors speculate that his cancer may have returned.