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Apple closed higher today as Paine-Webber initiated coverage with a "buy" and The Online Investor named it as The Stock of the Day. Apple closed at 54 7/16, a gain of 5/16 or 0.58%), on low volume of 2,082,900 shares trading hands.
Apple PC competitors showed mixed results with Gateway and Dell closing ion positive territory while IBM, Compaq, and Hewlett-Packard all closed down. Gateway declared a 2 for 1 stock split after the closing bell which will go into effect for share holders of record on August 20th, while Dell also got an improved recommendation from BancBoston Robertson Stephens analyst Dan Niles. Mr. Stephens upped his rating from a "market perform" to a "long-term attractive."
The Dow, which bounced back and forth from positive to negative territory closed slightly down at 10707.70, a loss of 6.33. The Nasdaq also closed down at 2518.98, down 28.99.
For more of our coverage on Apple's stock, check out our Apple Stock Watch Special Report.
Apple
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