Apple stock is up $10.49 on pre-market trading on strength of its record-setting third quarter financial results.

The company stock declined this week on news that AT&T had activated just 146,000 iPhones in the first two days the product was on sale. Apple last night confirmed 270,000 iPhone sales, which heartened investors a little.

Record-breaking Mac sales, continued strength in iPod sales and news of continued marketshare gains will also have contributed to Apple's stock climb.

Apple shares closed at $137.26 last night, but currently stand at $147.75 on pre-market trading. Piper Jaffray currently offers a $205 target price on the stock.