AAPL traded up over 4% in the afterhours session on Wednesday after reporting Q2 earnings that pleased the Street. AAPL, which closed the regular session at $65.65, is currently trading in the afterhours session at $68.35. Expect volume to be very heavy on Wednesday; I would expect upwards of 70 million shares to change hands on Wednesday. AAPL said that it earned 47 cents per share on revenues of $4.36 billion dollars, besting analyst estimates of 43 cents per share on revenues of $4.54 billion dollars. For Q3, the company forecast revenues of between $4.2 - $4.4 billion dollars, compared to analyst estimates of $4.73 billion dollars. AAPL also said that it expects earnings in the quarter of between 39-43 cents per share, lower than analyst estimates of 47 cents per share.
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