Apple Shares Hit All-time High

(RTTNews) - Apple Inc. (AAPL) shares hit an all-time high of $120 in intra-day trading on Friday, surpassing their previous intra-day high of $119.75 touched on November 25.

The stock price boost came just days after the Cupertino, California-based company reported record-breaking quarterly results.

On Tuesday, Apple reported a 38% jump in its first quarter profit, driven by all time record revenue from iPhone and Mac sales as well as record performance of its App Store. The tech giant sold a record 74.5 million iPhones in its first quarter ended December 27, 2014, up 46% from 51.0 million in the same quarter last year.

Blockbuster sales of big-screen iPhones during the holiday quarter also helped Apple to tie with South Korea's Samsung Electronics Co. Ltd. to become the world's largest smartphone vendor. Both Apple and Samsung sold 74.5 million smartphones during the December quarter, according to research firm Strategy Analytics. Apple's sales increased from 51.0 million units sold last year, while Samsung sales plunged from 86.0 million units. Apple has become the world's largest smartphone vendor for the first time since the fourth quarter of 2011, according to Strategy Analytics.

Apple shares are currently trading at $119.08, up 18 cents.