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Apple Shares Jump After IPhone, IPad Sales Fuel Profit

Apple Inc.’s stock jumped to its highest price ever, after record sales of iPhones and iPads helped third-quarter profit blow past estimates.

Net income in the period more than doubled to $7.31 billion, or $7.79 a share, from $3.25 billion, or $3.51, a year earlier, Apple said yesterday in a statement. Sales climbed 82 percent to $28.6 billion. Analysts had predicted profit of $5.87 a share and revenue of $25 billion, according to Bloomberg data.