Earnings Watch: Apple heads back toward $1 trillion territory after earnings beat, optimistic forecast

Apple Inc. shares gained in after-hours trading Tuesday after the company gave an upbeat forecast for the current quarter, putting the stock on pace to notch a $1 trillion valuation once again.

The tech giant managed to grow revenue slightly in its latest quarter, to $53.8 billion, while topping the consensus view on both sales and earnings. Apple AAPL, -0.43% posted earnings per share of $2.18, down from $2.34 a year prior but ahead of the $2.09 forecast. For the third quarter, it expects revenue of $61 billion to $64 billion, above the $60.9 billion analysts were modeling.

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