Apple stock is now within spitting distance of the $1 trillion market cap milestone. Although after-hours trading can be volatile, it is obvious that investors are pleased with Apple’s latest earnings report.

In after-market, the stock hit $197.69 — above its all-time high of $195.96, up 3.6% on today’s close. If the gains hold, Apple will open with a market cap around $990bn tomorrow.

Although short-term stock price changes are not a great indicator of company performance, there is a lot of attention on the tech titans at the moment as Apple nears a trillion-dollar market cap, a milestone that no public company has ever achieved before.

Apple will cross the ‘magic’ trillion dollar line when the stock price crosses about $203.50. With the current aftermarket trading, Apple is within just 3% of achieving it.

Apple announced better-than-expected financials for the fiscal third quarter, with resilient iPhone and iPad sales at higher ASP, although Mac sales fell year-over-year. Investors were pleased by Apple’s $60-$62bn next-quarter guidance, which was above consensus estimates.

We’ll see where the stock settles at market open tomorrow …

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About the Author

Benjamin Mayo

Benjamin develops iOS apps professionally and covers Apple news and rumors for 9to5Mac. Listen to Benjamin, every week, on the Happy Hour podcast. Check out his personal blog. Message Benjamin over email or Twitter.