Apple's Record Profit Not Enough For a Record High For Its Stock

MarketWatch Pulse

Although Apple's record quarterly profit of $18 billion was well above expectations, it wasn't quite enough to produce a record high for the stock. Apple shares climbed 7.7% to $117.51 in morning trade Wednesday, putting them on course for the biggest one-day percentage gain in nine months, but they were still 1.9% below the Nov. 25, 2014 all-time intraday high of $119.75 on a split-adjusted basis, and 1.3% below the Nov. 26 record closing high of $119. Still, Apple's profit was 17% above the FactSet consensus estimate, and 13% above the record profit for Exxon Mobil of $15.91 billion in its second quarter of 2012, according to FactSet data. Exxon is the second-biggest U.S. company, with a market capitalization of $379.96 billion, which is just over half of Apple's market cap of $686.1 billion.

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