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.