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Apple Stock Jumps 5.6% to Record High

Apple Stock Jumps 5.6% to Record High

by , 4:30 PM EDT, September 6th, 2005

Apple Computer's stock jumped 5.58% Tuesday in heavy trading in anticipation of the company's September 7th media event to be held tomorrow. Trading saw the stock close at US$48.80, a record high, with the stock spiking at $48.88 during the day's activity. Investors are anticipating that Apple will announce either a new iPod, the long-awaited iTunes phone from Motorola, or some other product that will further the company's lead in the digital media device market.

Today's rise, however, comes even after analysts like Keith Bachman of Banc of America said on Friday that the value of any such new product was already built into the stock. Mr. Bachman expects Apple's announcement to center around the iTunes cell phone.

Be that as it may, AAPL still saw some 29 million shares trading hands. The stock closed at 48.80, a gain of 2.58 (+5.58%).

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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.

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