Apple’s increase helped the Dow Jones push above 22,000.
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SAN FRANCISCO — Apple’s stock soared today, breaking new records and helping push the Dow Jones Industrial Average above 22,000 for the first time in its history.
The Cupertino, Calif., company’s stock closed at $157.15, up 4.7%. Apple’s market value is a whopping $782.3 billion.
This record-breaking performance comes a day after Apple announced its fiscal third-quarter earnings were higher than expected. Analysts expected a revenue of $44.9 billion and earnings of $1.57 per share for the quarter, but Apple delivered revenue of $45.4 billion and earnings of $1.67 per share.
Apple unexpected earnings come from a surge in iPad sales and Services. It sold 41 million iPhones and 11.4 million iPads in the third-quarter after seeing declining sales for iPads in the last two years. Its Services division — Apple Music, iTunes and App Store — rose 22% to $7.3 billion.
The Dow Jones opened Wednesday at 21,997 and closed at 22,016.24.
