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Unbelievably, Apple closed higher again today, to close at 60, yet another 7 year high! In a market that saw every other major PC manufacturer fall, some by as much as 5.89%, Apple showed once again that Wall Street is believing in Apple and the 7 quarter long recovery more and more.
Apple closed at 60, an increase of 5/16 or 0.52%. Volume was moderately heavy with 5,935,800 shares trading hands. Apple traded as high as 61 3/8.
On the PC front, IBM, Dell, Hewlett-Packard (down 6 7/16), Compaq, and Gateway 2000 all closed down. Microsoft closed down (2 7/16) along with Intel, despite the continued rise of RedHat (of which Intel owns a major stake) which continued its meteoric rise for the 2nd day following its IPO.
he Dow and the Nasdaq were mixed with the Dow closing at 10807.75, a gain of 19.95 and the Nasdaq closing at 2549.49, a loss of 15.49.
For more on Apple's stock performance, check out our Apple Stock Watch Special Report.
The Mac Observer Spin: Remarkable. For Apple not to have fallen victim to profit taking is simply remarkable after rising so high in yesterday's trading. It is even more remarkable that Apple has managed to consistently trade higher for the last several weeks despite an overall weakness in the tech sector in general and PC vendors in particular.
Congratulations to Apple!
Apple
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