Apple Inc's stock started an upward climb overnight following the report of its first fiscal quarter earnings that beat analyst expectations, pushing up from its Wednesday US$82.83 closing point to just over $90. The company's stock dipped again in afterhours trading, but inched its way back up to nearly $90 in the early morning hours on Thursday.
The Mac, iPod and iPhone maker reported a first quarter revenue of $9.6 billion with a net quarterly profit of $1.58 billion. The company sold 2.524 million Macs during the quarter, along with 22.7 million iPods and 4.363 million iPhones.
Looking forward, Apple guided below analyst estimates yet again. The company is expecting to show a second quarter revenue between $7.6 and 8 billion instead of Wall Street's $8.2 billion estimate.
Apple is currently trading in the pre-market at $89.70, up $6.87.