“Shares of Apple Inc. fetched more than $103 each Wednesday evening after the computer technology giant posted an 88% surge in quarterly profit, surpassing Wall Street’s outlook,” Carla Mozee reports for MarketWatch.
“Apple shares jumped $7.92, or 8.3%, to last trade at $103.27. They were the most active during the session, according to Nasdaq,” Mozee reports.
“Apple said its fiscal second-quarter earnings soared 88% to $770 million, or 87 cents a share, on rising sales of iPods as well as the company’s line of Mac computers. The consumer electronics maker’s sales for the period increased more than 20% to $5.26 billion. Analysts were expecting earnings of 64 cents a share on revenue of $5.17 billion for the quarter, according to estimates from Thomson Financial,” Mozee reports.
Full article here.
“Computer technology giant.” And don’t you forget it.