Apple has been given an unprecedented vote of confidence on Wall Street as the share price of the company climbed to an all-time record of $700 in after hours trading.
The new surge of interest in the company comes on the back of new buzz for the upcoming iPhone 5 device, which Apple said has received two million pre-orders.
While the company says the majority of pre-orders "will be delivered" to customers in time for the iPhone 5 release date of September 21, Apple says "many are scheduled to be delivered in October".
Apple shares crossed the $700 mark in after-hours trading, peaking at $701 and closing at $699.78. Since January, shares in Apple shares have climbed 73 per cent.
Meanwhile, shares in PC chipmaker AMD sunk by 13 per cent in after-hours, following AMD's statement that its CFO Thomas Seifert had resigned.
Seifert stepped away "to pursue other opportunities," the company said.