Apple is taking off after its earnings beat (AAPL)

Apple is up more than 5% on Wednesday morning at $127.76 after reporting better than expected earnings on Tuesday afternoon. While the quarterly results were ahead of estimates, the company's second quarter revenue guidance came up a bit short.
Here's a look at the key numbers:
EPS (GAAP): $3.36, up 2% year-over-year, ($3.22 expected)
Revenue: $78.4 billion, up 3% year-over-year, ($77.4 billion expected)
Gross margin: 38.5%, versus expectations of 38.4%
iPhone unit sales: 78 million, up 4%