Apple is a hot commodity on the stock market and that commodity was +4.52 after Tuesday trading when the company announced fiscal third quarter earnings on Tuesday that easily passed Wall Street estimates with $25 billion in sales.
Shares of the world’s top earning tech company jumped 7% in trading to pass the $400 sell point in after hours trading. Apple reported $7.31 billion for the quarter ending June 25, an amount equal to $7.79 per share, that number is up from $3.25 billion or $3.51 per share during the same period in 2010. The company’s biggest gain was revenue which leaped to $28.6 billion for the quarter, up 82%.
Investors will also be paying close attention to credit provider American Express (AXP +0.37%) who will announce their quarterly earnings after the close on Wednesday. AmEx is expected to earn 98 cents per share on revenue totaling $7.34 billion.
Other big company’s releasing numbers on Wednesday include Abbott ABT, Ebay, Johnson Controls, Altria Group and United Technologies.