Readers Predicted Apple's Huge Bounce

NEW YORK ( TheStreet) -- TheStreet prides itself on having smart readers, and following Apple's ( AAPL) earnings report, they are living up to that reputation.

Of the 1,393 people who responded in TheStreet's poll regarding Apple's share price, 499 people, or 35.8% of those surveyed, said they expected Apple would trade $600 or higher following its quarterly numbers.

Apple generated record second-quarter results, reporting earnings of $12.30 per share on revenue of $39.2 billion. Analysts polled by Thomson Reuters were looking for a profit of $10.04 a share on revenue of $36.81 billion.

More than 30% of readers said they thought Apple's stock would trade between $580-$600 per share following the results. A smaller percentage, 16.7%, were looking for a more modest gain in the $560-$580 range after the shares finished Tuesday's regular session down 2% at $560.28.

Despite Apple having fallen for ten of the past eleven session ahead of Wednesday's rally, just 16.8% of readers believed Apple would fall below $560 per share.

Shares of Apple are leading the Nasdaq sharply higher, gaining 8.96% to trade at $610.50 on volume of more than 29 million.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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