Apple Stock Zooms Higher

Updated from July 25

Apple(AAPL Quote) shares soared toward an all-time high Thursday after the company's latest earnings blowout.

The stock was up more than 8% to $148.50 after briefly toppling the $150 level in extended trading Wednesday evening.

Apple said Wednesday that it posted third-quarter net income of $818 million, or 92 cents a share, up from $472 million, or 54 cents a share, during the same quarter a year ago. This beat analysts' consensus estimate of 72 cents, according to Thomson Financial.

Revenue rose 24% to $5.41 billion, on a 36% jump in Mac sales.

Apple sold 1.8 million Macs, topping estimates that ranged form 1.6 million to 1.65 million. The company benefited from the debut of a new MacBooks with an LED display.

Another tailwind was Apple's sales through Best Buy (BBY Quote) stores. During the quarter, the number of stores selling Apple products increased to 75 from 50. Apple expects to accelerate this rate and to have its products in 300 Best Buy stores by the end of the end of the calendar year.

The company also plans to open 12 new Apple stores in the September quarter and end the year with 197.

Just Tuesday, Apple shares fell more than 6% after downbeat news from AT&T(T Quote) regarding iPhone activations.

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