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Apple Is Surging This Morning

Jay YarowApr 24, 2014, 17:40 IST

Apple's stock is up 9% in pre-market trading after last night's earnings report.

Apple delivered significantly better than expected iPhone sales. It sold 43.7 million iPhones versus analyst forecasts of 37.7 million iPhones. That represented 17% growth. Analysts were expecting low single digit growth.

Apple is the iPhone company. The iPhone was 57% of Apple's sales. A healthy iPhone business, means a healthy Apple.

Apple also announced plans to increase its stock buyback, dividend, and stock split.