Are you kidding Apple?

Talk about a blowout quarter! Apple (NasdaqGS: AAPL) absolutely tore the cover off the ball. The company reported an all time record quarter with over $28 billion in revenue, earning a whopping $7.79 per share. On average the street was expecting revenue of $25 billion and a $5.85 e.p.s. Shares at one point surged to over $400 dollars in after hours trading. What can you say other than this is just a remarkable growth story and a company that continues to be the innovative leader in tech. This likely will help fuel today’s powerful rally which came on the heals of strong numbers out of IBM and chatter out of Washington of a potential deal on the debt ceiling issue.

On the day the Dow (chart) finished up over 200 points, the Nasdaq (chart) up 60+, the S&P 500 (chart) +21 and the small cap Russell 2000 (chart) finished up 18.65. Earnings reporting season seemingly always creates upside and downside surprises, and so far the tech titans have over delivered.

Have a good evening.