|[10:20 AM] Apple Trading Higher In Advance Of "Special Event"
Apple is trading higher this morning in advance of Apple's Special Event scheduled for 12:00 PM CDT. Steve Jobs is expected to announce Apple's next iMac revision at this Special Event, and Wall Street appears to be excited about it.
Apple is trading at 67 7/16, a rise of 2 7/8 or 4.45% as of 10:217 AM CDT (with a 15 minute delay). Volume is moderately heavy for morning trading with 2,540,900 shares trading hands.
We will be bringing you live coverage of M. Jobs's announcement once it begins, as well as its impact on Apple's stock performance later today.
For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.
The Mac Observer Spin: Buy on rumor, sell on fact. That's the rule of thumb these days on Wall Street. If that rule holds for today, then Apple could fall in afternoon trading or tomorrow. However, this announcement could be just what the doctor ordered for Wall Street to drive the stock back to the lofty highs set before Apple announced an earnings warning two weeks ago.