Apple share price rises after stellar first quarter earnings

Lynsey Barber
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Apple heads higher after first quarter earnings (Source: Getty)

Apple stock has opened as much as eight per cent higher, reflecting a stellar set of earnings released after yesterday's market close.

Investors appear more than happy with the $18bn of profit and 75m iPhones it sold in the three months to the end of December - the biggest quarterly profit of any company in history.

Apple had already gained five per cent in after-hours trading.

At $117.90 per share in mid-morning trading, it was touching highs last seen in November, the same month in which it hit a record $119.75.

The gains lifted the Nasdaq higher, rallying one per cent, or 56 points higher.

And here's the trend for Apple shares after posting its first quarter results after a the launch of a new iPhone.

Some analysts think Apple could break the $120 per share mark.

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