Apple shares close on a high following earnings bump

Apple's trading bump this morning managed to stick around, propelling shares to a new record close.

CNET

The nearly 7 percent bump Apple got from its record earnings managed to stick through the day, pushing its close to an all-time high.

Apple closed at $446.66, a figure that's less than the stock's $454.44 opening price this morning , but which still represents a gain of 6.24 percent for the day.

Shares skyrocketed yesterday in after-hours trading following Apple's record-setting first quarter earnings report . The company posted $46.33 billion in revenue and a record profit of $13.06 billion, beating its own forecasts and those by the majority of Wall Street analysts. Shares jumped some $33.59, or 7.99 percent in after-hours trading following the news.

Despite its considerable gain for the day, Apple currently sits behind Exxon Mobil in the spot for the top market capitalization. Exxon ended the day at $418.06 billion, with Apple coming in just behind at $416.38 billion. Apple briefly passed Exxon last August , and did it once again today when its shares went higher during intraday trades. The two companies had traded spots late last year, before Exxon took a strong lead.

At last check Apple's stock is gaining ever so slightly in after-hours trading, selling at $446.88 or up 0.05 percent.

About the author

Josh Lowensohn joined CNET in 2006 and now covers Apple. Before that, Josh wrote about everything from new Web start-ups, to remote-controlled robots that watch your house. Prior to joining CNET, Josh covered breaking video game news, as well as reviewing game software. His current console favorite is the Xbox 360.

 

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