AAPL Rises on December Profits

| Apple Stock Watch

Shares in Apple Inc. rose Wednesday during the morning session following the company’s blowout results for the December quarter, the company’s first fiscal quarter of 2011. The markets shrugged off worries over CEO Steve Jobs’s new medical leave of absence, and instead focused on the record profits and strong guidance for the March quarter.

Shared opened the day at US$348.60, which is above Friday’s record closing high of $348.48, but gave back some of those gains in the first 90 minutes of trade. The stock is currently trading at $342.79 per share, up $2.14 (0.63%), on heavy volume.

AAPL Chart

Source: Yahoo! Finance

On Tuesday, Apple reported record revenue of $26.74 billion and record profits of $6 billion. These numbers included record Mac, iPhone, and iPad sales, and strong performance throughout the planet. Read The Mac Observer’s full coverage for more information.

AAPL’s performance Wednesday contrasts with the broader markets, which are all lower. The DOW is at 11,836.340, off by 1.59 (-0.01%); the NASDAQ is at 2,739.860, down 25.99 (-0.94%); and the S&P 500 is at 1,286.490, down 8.53 (-0.66%).

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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