Apple Continues Spectacular Pre-Earnings Rally, Nears $170

Apple Inc. AAPL shares are trading higher by $3.80 (2.4 percent) at $166.85 in Monday's session.

This comes on top of Friday's rally of $5.64 ($157.41 to $163.05). The monster rally was instigated by huge demand for the iPhone X that was made available for pre-order Friday morning.

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That news has contributed to usual price action for the stock ahead of its quarterly report. Apple usually rallies a week or so prior to the report in anticipation of another earnings beat. The company will announce Q4 earnings after the bell on Thursday.

After a higher open, Apple's stock immediately found support just above the upper-end of Friday's range ($163.60) only reaching $163.72, before continuing its move higher. As of 10:50 a.m. EST, it reached $168.04 and is attempting to remain in the $167.00 handle.