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Another 52-Week High: Apple Closes At $52.19

Another 52-Week High: Apple Closes At $52.19

by , 7:15 PM EDT, October 28th, 2004

After hitting a 52-week high on Wednesday, shares in Apple Computer (AAPL) closed Thursday at yet another new 52-week high of US$52.19, a gain of $1.89 (+3.76%).

The stock traded on heavy volume of 15.4 million shares trading hands. Apple's current market value climbed to $20.43 billion, and its price-to-earnings ratio (P/E) stands at 73.61. In comparison, Dell's P/E stands at 30.48, while Microsoft's is 36.

News driving Apple's stock hike include the unveiling of its new iPod Photo, and a special edition U2 iPod, both of which were introduced on Tuesday of this week.

In addition, on Wednesday, Merrill Lynch analyst Steven Milunovich raised his estimates for Apple for the fiscal first quarter ending December to earnings of 42 cents per share on revenue of $2.95 billion, up from earnings of 40 cents per share on revenue of $2.85 billion.

If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Observer Comments

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Close Name:Bookman Posts: 543 Joined: 22 Apr 2002
Fri Oct 29, 2004 9:51 am Subject:

Now I'm wishing I jumped on board when they were at $40. How high can this go?!!!


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