Apple Inc.s (AAPL) German-listed shares rose sharply in early Wednesday trading after the world's biggest tech company posted a robust set of fiscal third quarter earnings and appeared to silence speculation of a potential delay in its next iPhone launch.
Apple shares listed on the Deutsche Boerse in Frankfurt were marked 6.75% higher at €134,300 for 500 units, a gain of €8.30 from their previous close of €126.00. Apple's main listing in New York gained 6.14% in pre-market trading after closing at $150.05 each in the main session and are expected to open north of $160 a share later today, giving the company a market value of more than $800 billion.
Apple said its expects to see revenue over its fiscal fourth quarter -- which ends in September -- to be in the region of $49 billion to $52 billion, a figure that topped analysts' forecasts and suggests that rumours of production and technical delays linked to the 10th anniversary iPhone release later this year are unfounded.
Apple's third-quarter earnings were also stronger-than-expected, with earnings coming in ahead of analysts' forecasts at $1.67 per share while total revenue was tabbed at $45.41 billion. The Cupertino, California-based group also said all-time iPhone sales topped the 1.2 billion mark during the three months ending in June after 41.03 million units were shipped during the quarter, a 1.6% increase from the same period last year.
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The only blemish on the otherwise stellar quarterly report card was a modest -- though perhaps telling -- miss on average iPhone selling prices, which lagged the Wall Street consensus by 2.4% at $606 per unit.
