This Story Posted:
May 24th, 1999

 
 

[4:19 PM]
Apple Stock Watch: Interest Rate Worries Drag Apple Down, Apple Closes Below 42
Lingering worries over potential increases in the interest rate pushed Apple and other tech sector stocks down. This comes despite Apple announcing AppleShare IP 6.2 and other good news in the tech sector.

Apple closed at 41 15/16, down 2 or a drop of 4.55%. This marks the first time in several weeks that Apple has closed below 42.

Apple's PC competitors also suffered losses as IBM, Hewlett-Packard, and Dell all closed down. Compaq closed with no change while Gateway 2000 closed slightly up.

The predominant worry circulating through Wall Street involves worries that the interest rate may be heading up.

The Mac Observer Spin: The moral of today's stock activity? Market jitters took a toll on Apple.

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