updated 05:10 pm EDT, Tue July 19, 2011
Company reports yet another best quarter
Apple stock has surged past $400 per share in after-hours trading, gaining over six percent in additional value after the company announced yet another "best quarter ever" shortly after the markets closed for the day. Shares had already gained $3 to reach $376 earlier in the day, following a number of positive analyst forecasts ahead of the company's quarterly financial disclosures.
The company posted revenue of $28.57 billion for the quarter ending June 25, with net profits of $7.31 billion. iPhone sales topped 20.34 million units, while iPad numbers reached 9.25 million and Mac shipments increased to 3.95 million units.
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Apple CEO Steve Jobs.
Even with analyst estimates falling short of Apple's actual performance, the company's stock price reached a new high this week. Shares have continued a steep climb through the year, from a 52-week low of $235/share.