Apple jumps more than 6%, set to open at record high after earnings beat estimates

If consumers are holding out for the next iPhone, they've still been spending plenty of money at Apple Stores in the meantime.

Shares were set to open at a record high Wednesday, with a market capitalization of over $830 billion, after the iPhone maker reported better-than-expected earnings.

The stock climbed more than 6 percent in extended hours trade and were set to open near $160 a share, on track to surpass the $156.65 intraday high set on May 15. The gains in Apple were also poised to push the Dow Jones industrial average over the psychologically key 22,000 level.

Apple reported fiscal third-quarter earnings on Tuesday that beat analysts' expectations, and revenue that topped estimates, as it sold more iPhones than expected.

Apple shares 2-day performance (extended hours)

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