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Apple Stock Recovers From iPhone Scare

Apple Stock Recovers From iPhone Scare

by , 5:45 PM EDT, May 17th, 2007

Following the two-day rollercoaster ride called iPhone, Apple stock recovered to close on Thursday at US$109.44. The company's stock dropped several points on Wednesday after a bogus email that appeared to have come from Apple stated that the iPhone and Mac OS X 10.5 would be delayed.

The Mac and iPod maker's stock started to climb again on Wednesday after Apple confirmed that the email was fake, and it continued to rebound on Thursday. Thursday afternoon the stock began to climb even quicker after word surfaced that Apple had finally received FCC approval for the iPhone, allowing product development to stay on schedule for a late June release.

Apple stock opened at $107.34, and rose as high as $109.87 before settling at $109.44 for the day. Apple is currently trading after hours at $109.46, up 0.02 (0.02%).

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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