Shares of Apple Inc, (Nasdaq: AAPL) have skyrocketed in after hours trading on Tuesday, October 21st following the company’s 4th quarter earnings results conference call.
Currently, shares of the big tech firm are hovering around $104.40 in after hours trading, up $12.91 (14.11%) from the day’s closing price of $91.49. As we previously reported, Apple has absolutely demolished Wall Street expectations.
“Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone—we sold more phones than RIM,” said Steve Jobs, Apple’s CEO. “We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt… We are providing a wide range for our guidance, targeting revenue of $9.0 to $10.0 billion and earnings per diluted share between $1.06 and $1.35.”
Apple CEO Steve Jobs made a very rare appearance during the conference call. We have outlined all of the major statements made by the CEO, as well as the fundamental issues that were addressed during the call.
After announcements such as these and these, the steep incline in shares of Apple during today’s after hours trading is not entirely surprising. Regarding growth, “Apple’s North American market share has jumped nearly 60%, rising from 6.6% of the market to 10.6% through the second quarter of the year. This marks the first time ever that Apple’s notebook share has broken the double digit mark,” MacBlogz recently explained. Combined with a heaping pile of cash (nearly $25 billion debt free), and exploding iPhone sales, Apple seems perfectly positioned to ride out the next 18-24 months of inevitable economic downturn.
Update: The stock finally rested at 103.61 +12.12 (13.25%) when After Hours trading came to a halt.
Related posts brought to you by Yet Another Related Posts Plugin.
7 Comments to “Apple (AAPL) Shares Skyrocket in After Hours Trading, Up Over 14% [U]”
I still think Apple could do better with market share. I’m a shareholder myself and a $799 priced notebook could honestly SMOKE the competition. Who cares if only a few people need them? Not everyone NEEDS the Macbook Air. And people still buy them.
A $799 netbook could shift consumers to entirely focusing on Apple products, and Apple products ALONE.
[Reply]
I keep hearing this all around me. “Where’s that $799 notebook?” — “Man, if Apple came out with a $799 notebook I would buy a few of them” — “One for my mom” — “One for my brother”
While I personally may not agree with the idea, there’s no denying what is being said by (would-be) customers.
[Reply]
Quite a steller time to be debt-free if you ask me.
[Reply]
Not just debt free! BUT IT KEEPS GROWING !!! 19 bill -> 20 bill -> 25 bill -> 27 bill -> 30 bill -> WHO KNOWS
[Reply]
They should acquire something, someone, or do something with this money. Maybe give some to the shareholders through this tough time?
1 BILLION$ payout to the shareholders? Is that unrealistic ?!?!?! LOL
[Reply]
hahaha, I wouldn’t hold your breath
— Apple would never pull a stunt like that.
[Reply]
@TetrisLOVA: “Is that unrealistic ?!?!?” — YESSSSSS
[Reply]