Apple shares hit record high ahead of earnings

Apple shares hit a record high on Wall Street ahead of what is expected to be another blockbuster earnings report
The Apple logo is illuminated at the entrance to an Apple Store in New York City. Apple shares hit a record high on Wall Street on Monday ahead of what is expected to be another blockbuster quarterly earnings report by the California gadget-maker.

Apple shares hit a record high on Wall Street on Monday ahead of what is expected to be another blockbuster quarterly earnings report by the California gadget-maker.

Apple shares reached $374.65 during trading in New York before closing at $373.80, a gain of 2.43 percent on the day.

Apple is to release its fiscal 2011 third-quarter results on Tuesday after the closing bell on Wall Street.

Financial analysts are expecting another solid quarter for the maker of the , the iPhone, the iPod and the .

Apple nearly doubled its quarterly net profit to $5.99 billion on record iPhone sales in the second quarter while revenue rose 83 percent to $24.67 billion.


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(c) 2011 AFP

Citation: Apple shares hit record high ahead of earnings (2011, July 19) retrieved 15 September 2019 from https://phys.org/news/2011-07-apple-high.html
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