The Mac Observer

Skip navigational links

Choose text size: Select small text. Select medium text. Select large text.

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Stock Rises in IBM-Led Tech Rally

Apple Stock Rises in IBM-Led Tech Rally

by , 10:40 AM EDT, October 9th, 2008

Stock in Apple Inc. got a boost by its erstwhile enemy IBM, which led a broad tech rally in the early hours of the Thursday morning trading session. As of this writing, AAPL was trading at 93.63, a gain of 3.84 (4.28%).

IBM kicked off the tech party by releasing preliminary numbers for the September quarter early, late on Wednesday. The company earned US$2.8 billion on $25.3 billion in revenue, up from $2.36 billion in earnings on $24. billion in revenue in the year-ago quarter.

Perhaps more importantly, Big Blue also reaffirmed its guidance for the rest of the year of $8.75 per share in earnings, a 22% increase in earnings year over year. It's that guidance that investors latched onto, sending tech shares higher.

Apple releases its own earnings report on October 21st, 2008. The Mac Observer will be offering extended coverage of that report.

*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.

Observer Comments

Show: Subjects Only | Full Comments
Comment on this Article


Guest Posts Visible. Hide Them.
Back to top  Page 1 of 1    

Comments are currently closed. Please email the author instead.


Recent Headlines - Updated March 21st

Fri, 5:55 PM
Games - Namco Releases Match-Three Game Tinseltown Dreams to the App Store
5:16 PM
News - iPad Launch Day Deadline for Developers: March 27
5:11 PM
News - Steve Jobs Helps Promote Organ Donor Legislation
4:06 PM
iPad - VIVmag Shows Off Interactive iPad Version in the Works
3:07 PM
App Store - Microsoft Yanks Bing App From Foreign App Stores
2:05 PM
iObserver - Analysts Downgrade Troubled Palm Amid Severe Revenue Drop
1:35 PM
In-Depth Review - PhoneSuite MiLi Packs a Powerful Punch
1:11 PM
News - YouTube to Viacom: Sue Yourself
11:34 AM
Product News - PocketMac for BlackBerry 5 Improves Snow Leopard Support
10:59 AM
News - Apple iGroups Patent Hints at Social Networking Plans
10:20 AM
Hot Forum Topic - Reader Discussion: Who Will Buy Palm?
9:50 AM
News - Bharti Airtel Lands India iPhone 3GS Deal

The Mac Observer Reader Specials
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!