Apple's shares shot up over US$44 in after hours trading following the company's strong second quarter earnings report on Wednesday, and continued to climb over night. Shares were up 8.53 percent in Thursday morning's pre-market trading, which didn't fit with the price drop Apple's shares often see after an earnings report.
Apple's stock continues to climb following Q2 2014 earnings report
The sharp increase in Apple's stock value started in after hours trading on Wednesday when the company reported $45.6 billion in revenue with earnings per share at $11.62. iPhone sales beat analyst expectations at 43.7 million, iPad sales came in at 16.4 million, and Mac sales hit the 4.1 million mark.
While the iPhone numbers came in well above analyst expectations of 38 million, iPad sales were lower than the anticipated 19 million. Despite missing analyst's models for iPad sales, the market still reacted favorably.
Apple's stock value isn't just about quarterly iPhone and iPad sales figures, although sometimes it seems that way. Investors also react to other factors, including yesterday's announcement that Apple is increasing its quarterly shareholder dividend, and will initiate a 7-to-1 stock split in early June.
The company also announced that Burberry CEO Angela Ahrendts will officially start her new job as Apple's senior vice president of retail and online stores next week. Apple has been without a retail VP ever since John Browett was let go in 2012.
If Apple's stock price is any indication, investors are seeing the earnings report news as a sign of great opportunity -- and the company's stock is reflecting that.
Apple is trading in the pre-market at $569.50, up 44.75 (8.53%) after closing on Wednesday at $524.75.