Apple Shows Aces

Apple Shows Aces

9:10am (EST) If there was ever any doubt about just how powerful of a hand Apple (AAPL, $189.86) was holding in this weak economy, fear no more. The company threw down pocket Aces with the iPhone and the Mac as the bulls went all-in on Apple’s earnings report. Of course, we will have to wait to see the “flop” at the opening bell, but Apple’s hand should hold up well today. The company absolutely smashed Wall Street’s estimates and easily looks like it will top $200 in today’s trading. Shares popped to a high of $204 before settling at $202.40, up $12.54, in after-hours trading last night. In pre-market trading this morning, the stock is at $202. Apple earned an incredible $1.82 a share, up from $1.26 profit versus the year-ago quarter, and much more than the $1.42 Wall Street had pegged. Wow, a 40 cent beat! Not only that, revenue numbers also came in better-than-expected…$9.9 billion versus estimates of $9.2 billion. Apple’s Mac sales grew 17% over the year-ago quarter as consumers snatched up over 3 million of them. The iPhone also showed strong growth with a 7% increase as 7.4 million units were sold. I’ve got just one question…How ya’ like them apples Wall Street. Texas Instruments (TXN, $23.52) also traded higher in after-hours last night after beating earnings estimates as well. The company reported a profit of $0.42 versus the Street’s estimates of $0.39. Revenue was also higher and the company upped its capital spending for 2010. Dow futures are up 20 points, S&P 500 futures are up 4 while Nasdaq futures are higher by 15. Current subscribers, check the Members Area for the trade updates.]]>

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