As of 6:00 p.m. ET, shares were trading around $396 each after crossing the $400 mark for the first time earlier in the session, up more than 5% since the start of Tuesday’s trading. Net income in the period more than doubled to $7.31 billion, or $7.79 a share, from $3.25 billion, or $3.51, a year earlier, Apple said yesterday in a statement. Sales climbed 82 percent to $28.6 billion. Analysts had predicted profit of $5.87 a share and revenue of $25 billionTaiwan stocks rose 1.36 percent
to an almost two-week intraday high on Wednesday, lifted by
Apple suppliers such as Hon Hai Precision and
Largan Precision , after Apple posted market-beating
results. Apple Inc. shares fell for a fourth straight session Monday to nearly a seven-month low, sparking more debate about what ails the longtime market darling.
The stock slid $4.94, or 1.5%, to $315.32, its lowest closing price since Nov. 30. The price has fallen 13% from its record high of $363.13 on Feb. 16 and now is in the red 2.2% year to date.Shares of Apple surged to an all-time high in after hours trading following.Apple's earnings surprise had a positive impact on the South Korean tech sector today. But the European debt crisis remains, while U.S. debt problems have not yet been resolved. Therefore, the market is likely to remain volatile," said Lee Jae-man, an analyst at Tong Yang Securities.
A bipartisan group of U.S. senators offered an ambitious plan on Tuesday that could revive the prospect of a long-term deficit reduction deal to avert a default by the United States. Apple Inc. and IBM announced forecast-beating quarterly results.
Eyes are on Intel Corp's earnings to be released on Wednesday U.S. time to see whether the battered sector will be able to stage a recovery despite persistent macroeconomic uncertainties.
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