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.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

If you liked this article you might like

North Korea's Nuclear Threat Pressures Wall Street at Trading Week's End

Top Apple Analyst: Don't Expect Long Lines for iPhone 8, But News Is Not All Bad

3 Problem Areas for Market in 4th Quarter

Hoping for Negative Seasonality, but Market's Not Holding Its Breadth