[3:40 PM] Apple Stock Watch: Linux Stocks Soar, Apple Falls To Profit Taking
by Wes George
The stock market endured a bit of profit taking today which created a choppy and volatile session for many stocks. As usual, this rally is creeping higher only on the backs of a few high tech leaders. More than half of all Nasdaq stocks are down for the year.
Apple gave back 7 3/4 or 6.58% to close at 110 1/16 in a bout of profit taking after Apple's recent 22 dollar gain in the last seven trading session. Volume was below average
The Dow sagged 38 points (0.35%) to close at 11068.
The Nasdaq saw its first down day in 28 sessions, off 0.82 points (0.02%) to close at 3589 on 1.65 billion shares traded. Today was new high volume record for the Nasdaq.
The S&P 500 lost 5.55 points (0.39%) to close at 1403.
The bellwether 30-year Treasury bond lost 17/32 to close at 98 12/32, the yield rose to 6.23% from 6.20% on Tuesday.
In Apple related businesses volatility was the norm. Adobe soared 7 1/8 to end at 67 3/4. Macromedia was up 8 3/4 to 86. Symantec was up 9 5/16 to close at 63 11/16.
Apple's Power PC partners, IBM and Motorola, were mixed. IBM was up 1 1/4 to close at 118 1/4, while Motorola was down 2 1/16.
Apple's competitors were mostly down, Gateway, Dell, Intel, and Microsoft all got hammered again today. Hewlett Packard beat the third day of the Wintel down draft to close up 3 1/4 at 109 11/16.
The Linux hype heated up today pushing Corel (CORL) up 5 5/8 to close at 28 5/16. Corel is marketing a version of the linux operating system. Yesterday, Dell announced that it will start shipping Linux installed on some of their high-end servers, and that Red Hat Inc. (RHAT) will provide customer support.
For full quotes on all the companies mentioned in this article, we have assembled this set of quotes at Yahoo! for your reference. We also have many of these same quotes reported live (20 minute delay) on our home page. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.
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