Apple, tech stocks soar after hours, set to lead the Dow to a 22,000 record Wednesday

Shares of Apple surged more than 5 percent after the bell Tuesday in New York, putting the Dow Jones industrial average on track to hit 22,000 for the first time ever.

Apple’s stock surged after the tech giant reported quarterly results that blew expectations out of the water. The company reported earnings per share of $1.67 on revenue of $45.4 billion. Analysts polled by Reuters expected earnings per share of $1.57 on revenue of $44.89 billion. If Apple opens Wednesday where it is trading after hours, it would be a new record for the stock.

The gains in Apple would also theoretically add 50 points to the Dow, which would push it above 22,000 at Wednesday’s open. The Dow posted a record close of 21,963.92 on Tuesday, just 36.08 points shy of 22,000.

The Nasdaq 100 — which is composed of the 100 largest components in the Nasdaq composite — would also receive a lift from Apple. Nasdaq 100 futures pointed to a 0.68 percent gain at Wednesday’s open. The PowerShares QQQ Trust exchange-traded fund, which tracks the Nasdaq 100, climbed half a percent in after-hours trading.

Other tech stocks also gained in extended trading, with Alphabet, Netflix and Amazon shares all higher.

— With reporting by Robert Hum

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