Apple Back At July 2015 Levels After Q1 Beat

Apple Inc. AAPL shares are trading higher $6.45 at $127.80 in Wednesday's session.

The catalyst for the rally is a solid Q1 EPS beat of $0.14 along with nearly a $1 billion beat for revenues. The company exceeded estimates for iPhone sales of 76 million, selling 78.3 million.

Its opening print of $127.03 is only $0.02 from its current low of $127.01. It has continued to make new highs for the session with the current one standing at $128.30.

That puts the issue back at levels not seen since July 2015.

Apple is now trading in an area with not many reference points. In fact, there is void in price based on the daily chart from $130.75 to $125.22. That area represents the its change price from July 21 to July 22, when the Street wasn't satisfied with its Q3 report.