AAPL up 8%, approaching record high

AAPL up 8% to near record highs

Apple just posted $18 billion profit in the last quarter, the largest in its history on huge iPhone sales (~75 million). For a bit of perspective – that is more iphones than ALL TVs sold in that period (by all manufacturers).

The results came in above Apple’s own estimates, something investors have come to expect — though even for Apple it was a blowout.

Apple now has has enough cash on hand (and no debt) to buy 480 of the companies in the S&P 500.