Apple's stock rose to a new all time high yesterday, as investors pumped up shares of the iPhone and iPad maker the day before its quarterly earnings report later today.
According to Associated Press quoting Baird analyst William Power, Apple is expected to report a healthy fiscal third quarter, helped by sales of the iPad 2. Power said checks show demand for the iPhone is still going strong and the popular iPad 2, which for months after its March release was hard to find, is now more plentiful.
He expects the company to have shipped 16.9 million iPhones during the quarter, as well as 7.3 million iPads.
Yesterday, Apple shares rose $8.88, or 2.4 percent, on the NASDAQ exchange, to finish trading at $373.80 and then rose another 30 cents to $374.10 after hours. Earlier in the day, the stock rose as much as $9.73, or 2.7 percent, to $374.65.