INSTANT VIEW: Apple posts blowout quarter

SAN FRANCISCO (Reuters) - Apple Inc's profit and revenue blasted past analysts' expectations, fueled by record sales of the iPhone and Mac. Shares shot up 7.5 percent to more than $204 in extended trade.

Texas Instruments Inc's results also beat expectations -- though less dramatically -- and the chip maker said its fourth quarter earnings should be stronger than current forecasts.

COMMENTARY ON APPLE:

SUSHIL WAGLE, SENIOR VICE PRESIDENT, J&W SELIGMAN

"I like the fact that even their guidance was very good. Normally their guidance is a little tepid. Their revenue guidance is about $11.4 billion at midpoint and the Street is right around there, which is usually not the case.

"Overall, very, very solid. I think the stock is going to inch its way up to $250... slowly."

SHANNON CROSS, ANALYST, CROSS RESEARCH

"These are phenomenal results -- and use that word. You know, it proves that even in a challenging economy people are willing to pay for what they perceive to be high quality product and a good value product.

"It's fantastic earnings for this economy. Actually, it's great number for any economy. It just shows the strength of Apple. It reaffirms that Apple is the leading consumer electronics company.

"The number of Macs sold shows that Windows 7 has not been a threat to the Apple franchise."

PHIL ORLANDO, CHIEF EQUITY MARKET STRATEGIST, FEDERATED INVESTORS

"The fact that they beat as aggressively as they have tells me that they are selling music, telephones and personal computers in a market where everyone has thought up until now that the consumer is dead.

"So clearly the rumors of the demise of the American consumer have been greatly exaggerated. Either that or Apple is just doing (such) a phenomenal job that consumers can't help themselves."

MIKE MCGUIRE, ANALYST, GARTNER RESEARCH

"Given that everyone said the pre-recorded music area was flat, we are seeing a little bit of an increase in pre-recorded music sales.

"It would appear that this is an increasingly mobile world for Apple.