Apple, ARM, Fortinet: Premarket Movers
NEW YORK (TheStreet) -- Apple(AAPL) shares surged in premarket trading on Wednesday as investors responded to the tech giant's blowout second-quarter results, reported after the market closed on Tuesday.
The iPhone maker's stock was up $50.67, or 9.04%, to $610.95 after the company again shredded Wall Street's estimates. Apple announced quarterly earnings of $12.30 a share on $39.2 billion in revenue. Analysts surveyed by Thomson Reuters expected earnings of $10.04 a share and revenue of $36.8 billion.
Despite rumors of an iPhone slowdown, Apple shipped a massive 35.1 million iPhones, down slightly from 37.03 million in the prior quarter, but up a massive 88% from the same period last year.
In addition to the 35.1 million iPhones, Apple also sold 11.8 million iPads, 4 million Macs and 7.7 million iPods.
Apple was also the most active premarket Nasdaq stock on share volume of 491,461.
Chipmaker ARM Holdings(ARMH) was another active stock on Wednesday, climbing $1.35, or 5.37%, to $26.50.
Security specialist Fortinet(FTNT) was another winner after comfortably beating analysts' revenue estimate in its first-quarter results, released late on Tuesday. Shares of the Sunnyvale, Calif.-based company climbed $1.41, or 5.48%, to $27.15 before market open.
--Written by James Rogers in New York.
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