This Story Posted:
July 12th, 1999

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[3:37 PM]
Profit Taking Reclaims Some Of Apple's Gains, Stock Remains Well Above 50
Apple's stock fell somewhat today as some investors simply couldn't resist the opportunity to lock in profits after Apple's great run last week. Apple closed at 54 1/2, a loss of 1 1/8 or 2.02%. Volume too was down from the frenetic activity of last week with 2,695,300 shares trading hands.

Apple's PC competitors were mixed with IBM and Dell closing at a loss, while Gateway 2000, Hewlett-Packard, and Compaq all closed down.

The Dow and the Nasdaq were also mixed with the Dow closing at 11200.98, a gain of 7.28 and the Nasdaq closed at 2790.44, down 2.63.

The Mac Observer Spin: This type of loss is not uncommon after the big gains Apple saw last week. The key will be whether Apple can just stay over 50 to cement the overall gains.

Apple



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