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Published: Thursday, 7/21/2011

Apple stock zooms to highest price ever


Apple Inc.’s stock jumped to its highest price ever, after record sales of iPhones and iPads helped third-quarter profit blow past estimates.

Profit more than doubled to $7.31 billion from $3.25 billion a year earlier, Apple said. Sales climbed 82 percent to $28.6 billion. Analysts had predicted profit of $5.87 a share and revenue of $25 billion, according to Bloomberg data. Apple shares jumped 3 percent Wednesday to $386.90 on the Nasdaq Stock Market.

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