Cupertino, Calif. - Shares of Apple reached all-time high on Thursday after the company reported an 88% jump in net income for its fiscal second quarter.

Buoyed by continued strong iPod and Macintosh sales, the company posted net income of $770 million for the quarter ended March 31, up from $410 million the previous year, on revenue that grew 20% to $5.3 billion.

The earnings of $0.87 a share blew away consensus Wall Street estimates of $0.64, according to a survey by Thomson Financial.

Shares of Apple closed up 3.7% to $98.84 after soaring as high as $102.50 earlier in the day.

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