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 the Associated Press (AP), Apple is expected to report a healthy fiscal third quarter, quoting Baird analyst William Power who expects the world's most valuable technology company to issue "strong" fiscal third-quarter results, 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 shipped 16.9 million iPhones during the quarter and 7.3 million iPads.
Yesterday, Apple shares rose $8.88, or 2.4 percent, 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.