Company's stock soars after huge earnings beat

pulse

February 1, 2017 10:23 PM

Stock was up about 6.13% on Wednesday, the day after the company reported a huge beat.

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Wall Street certainly liked Apples first fiscal quarter earnings.

Apple stock was up about 6.13% on Wednesday, finishing the regular trading session at $128.79, the day after the company reported a huge beat.

That means that Apple's market capitalization rose by about $35 billion on Wednesday — just about Ebay's entire value, to put it in perspective.

Apple said on Tuesday that iPhone sales grew for the first time in a year, and also reported revenue of $74.8 billion, a record for the company.

In response, several Wall Street analysts, including those at Pacific Crest, RBC Capital Markets, and Oppenheimer & Company, raised price targets for the company.

Apple is currently at a 52-week high.

Here's the chart:

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