Stock News - Apple Inc. Opens sharply UP on Surprise Earnings
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Dallas, TX 10/20/2009 02:33 PM GMT (TransWorldNews)
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Share of Apple Inc. (NASDAQ:AAPL) is trading actively in early trading sessions after yesterday post market the company reported a fiscal fourth-quarter profit of $1.67 billion, or $1.82 a share, compared with $1.14 billion, or $1.26 a share, during the year-earlier period. Revenue was $9.87 billion versus $7.9 billion. Apple's results topped the estimates of analysts surveyed by Thomson Reuters, who had forecast $1.42 a share on revenue of $9.2 billion. Among the highlights of the quarter were sales of 7.4 million iPhones in the quarter ended Sept. 26. For its fiscal first quarter, Apple estimates it will earn between $1.70 and $1.78 a share on revenue in a range of $11.3 billion to $11.6 billion.
Now shares of AAPL are well above $200-mark and now up 6.12% at $201.42 with 4.50 million shares have changed hand. Also the stock made a new 52-week high at $202.47
Apple Inc.designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions.
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