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.
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.