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Intel Warns, Markets Rise -- AAPL Up 7%

Intel Warns, Markets Rise -- AAPL Up 7%

by , 5:25 PM EST, November 13th, 2008

iStock

Hot on the heels of a profit warning from Intel, tech stocks shot up, pushing shares in Apple Inc. along for the ride. The tech-heavy NASDAQ also rose, closing at 1,596.70, a gain of 97.49 (+6.50%). Intel closed at 14.43, up 0.91 (+6.73%), while Apple closed at 96.44, a gain of 6.32 (+7.01%) on heavy volume.

Late on Wednesday, Intel warned that it expected revenue for the December quarter to come in substantially lower than previously forecast, an event that pushed stocks lower in early Thursday trading, but the markets shrugged it off and tech stocks shot up in a broad rally late in the Thursday trading session.

Shares in Apple traded as low as $88 per share during the morning's bear session, but the rally pushed it firmly back into winner's territory.

Speaking of Dell, shares in the toaster maker fell to end the day at 10.27, a loss of 0.23 (-2.19%). Dell's market cap ended the day at $20.1 Billion. For the sake of comparison, Apple's market cap ended the day at $85.7 Billion.

It seems like only yesterday (it was October of 1997) that Michael Dell pronounced Apple a pointless endeavor, encouraging the board of directors to close up shop, sell off company assets, and give shareholders the money.

*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
Close Name:hangtown Posts: 112 Joined: 03 Dec 2005
Subject: Heal me!

"Hot on the heals of a profit warning"

Umm. Am I the only one who can't believe this sentence was written this way?

Close Name:Sir Harry Flashman Posts: 792 Joined: 08 Feb 2007
Subject: Homophones

Quote
hangtown wrote:
"Hot on the heals of a profit warning"

Umm. Am I the only one who can't believe this sentence was written this way?


Well it works either way

Close Name:Guest
Subject: get it right....

heels not heals

Close Name:Bryan -   TMO Staff Posts: 7340 Joined: 11 Jun 2001
Subject:

Thanks for the notes, folks. The typo has been corrected.

Bryan
Editor
TMO

Close Name:ctopher Posts: 134 Joined: 25 Aug 2006
Subject: Deaf Dumb and blind boy

He's in a quiet vibration land Strange as it seems his macintosh dreams ain't quite so bad...

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