Apple sails past Street view with healthy earnings

SEATTLE: Apple Inc coasted past Wall Street's expectations for its fiscal third quarter on a wave of laptop and iPhone sales. It did it during a quarter in which total computer shipments fell worldwide during a global recession. And it did it without sacrificing profit.

Investors sent Cupertino, California-based Apple's stock up $6.82, or 4.5 percent, to $158.33 in after-hours trading on Tuesday. Shares had dipped $1.40 to end regular trading at $151.51.

"Times are tough. Apple continues to post pretty strong numbers," said Shaw Wu, an analyst for Kaufman Bros. "It's pretty incredible. It truly is."