Instant Alert: Apple stock soars after its huge earnings beat

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   Apple stock soars after its huge earnings beat by Kif Leswing on Feb 1, 2017, 4:02 PM Advertisement Wall Street certainly liked Apple's 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.    SEE ALSO: Apple is spending billions on secret R&D projects — and it keeps spending more   Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011