Jim Cramer Blog

Apple Inc. blew past Wall Street expectations Wednesday, posting quarterly profits that jumped 88 percent, fueled by strong sales of its iPod players and Macintosh computers.
Shares of Apple soared more than 6 percent on the news, reaching above $100 for the first time.

In the first three months of the year, the Cupertino-based company said it earned $770 million, or 87 cents per share, up from $410 million, or 47 cents per share, in the year-ago period.
Sales were $5.26 billion, up 21 percent from $4.36 billion last year.
Analysts, on average, were looking for earnings of 64 cents per share on sales of $5.17 billion, according to a poll by Thomson Financial.

Labels: AAPL, Apple Inc.