Apple Inc. (NASDAQ:AAPL) stock went up 1.79% to $104.83, setting a new record high. The big jump comes just days after the Cupertino company reported strong fourth-quarter results. Investors have brushed aside all the negative headlines about Apple’s products in the past few weeks. There have been concerns over the iCloud account hacks, iPhone 6 Plus bending, technical glitches in Apple Pay, and widespread criticism of the iOS 8.0.1 update.

Good Week For Apple Inc. (AAPL) As Stock Hits All-Time High

AAPL’s iPhone 6 demand far exceeds supply

On the flip side, the new iPhone 6 and 6 Plus are flying off the shelves all over the world. Apple sold over 10 million new iPhones in the first three days of launch. When the company took the iPhone 6 to China, more than 20 million customers pre-booked the phone in just three days. During the company’s Q4 earnings call, Apple CEO Tim Cook said demand for the new iPhones is so strong that its suppliers had to ramp up production. But the demand will still far exceed supply.

Apple Inc. (NASDAQ:AAPL) sold 39.3 million iPhones during September quarter. Mac sales also surged 21% to 5.5 million units. The tech giant also sold 12.3 million iPads, though iPad sales declined 13% since last year. Overall, the company generated $42.1 million in revenue, up 12.4% from the corresponding quarter last year. Earnings also rose 12.7% to $8.5 billion or $1.42 per share. Surprisingly, Apple spent a whopping $17 billion on buybacks.

Apple (AAPL) story goes far beyond the new iPhones

There is more to Apple story than just the iPhone 6 and 6 Plus sales. The company is entering new product categories with Apple Watch. It has launched the Apple Pay service for quick, safe and cashless transactions using nothing more than your fingerprint. Tim Cook is rewarding shareholders with close to 2% dividend. And the company ended the September quarter with over $155 billion in cash.

In fact, most investors consider Apple Inc. (NASDAQ:AAPL) a rare breed of growth and value. The stock trades at just 13x its earnings estimates for the current year. Analysts expect the Cupertino company to keep growing at around 13% a year for the next few years. It is one of those rare blue-chip stocks that keep reporting strong earnings quarter after quarter, but are trading at a relatively modest valuation.