Investing.com - Apple (NASDAQ:AAPL) saw shares rally sharply on Wednesday, after the iPhone maker reported blockbuster fourth quarter earnings after Tuesday's closing bell.
Apple reported earnings of $3.06 per share, beating expectations for earnings of $2.97 per share. The company's revenue totaled $74.6 billion, easily surpassing forecasts for sales of $74.27 billion. Both were records.
The company sold 74.5 million iPhones in the fourth quarter, blowing past expectations for 67 million.
In a statement, Apple CEO Tim Cook thanked his company’s customers “for an incredible quarter, which saw demand for Apple products soar to an all-time high.”
Shares in Apple rallied 6.18% to $115.88 from a closing price of $109.13 on Tuesday.
Meanwhile, U.S. stock markets turned lower. The Dow 30 lost 0.15%, the S&P 500 dropped 0.3%, while the Nasdaq 100 slumped 0.1%.