You'll get your Mac news here from now on...

Help TMO Grow

Subscriber Login

Advertising Info


The Mac Observer Express Daily Newsletter


More Info

Site Navigation

Home
News
Tips
Columns & Editorials
Reviews
Reports
Archives
Search
Forums
Links
Mac Links
Software
Reports
Contact

November 8th 1999

[4:10 PM] Apple Stock Watch: Technology Rallies higher Without Microsoft, Apple Soars to 96 3/8
by Wes George

Microsoft and Intel hold back the Dow, but not by much, as Judge Jackson's Findings of Fact becomes popular reading among high tech investors. Meanwhile, the technology heavy Nasdaq continues to storm ahead, in part, encouraged by the Finding's implication for increased productivity and innovation in the US economy.

The Dow advanced 14.37 (0.13%) to 10718.85 on good volume. The weather across the nation continued sunny, warm and too beautiful for many investors to stay indoors. World markets closed mostly lower today.

The Nasdaq reaches an unusual seventh consecutive high, up 41.7 points (1.34%) to close at 3143.97 on roaring volume of 1.27 billion shares traded.

The S&P 500 moved up 6.78 (0.49%) to close at 1377.01

Apple was a big winner up 8 1/16 (9.13%) to close at a fifth consecutive all time high of 96 3/8 on very strong volume of 8.5 million shares. Investors seem to realize that Apple's Mac OS X stands gain more than any other operating system if Microsoft influence declines.

In other Apple news today, the San Jose Mercury News reported that a Federal Judge said he will "issue a preliminary injunction preventing Future Power Inc. and the Daewoo Group from distributing their iMac look-alikes."

US District Judge Jeremy Fogel said, "There are many ways in which modern lines, bright colors and translucent plastics might be combined in the design of a personal computer. Any of these combinations is available to Apple's competitors, so long as the combination selected is not so similar in appearance to the iMac as to infringe on Apple's trade dress rights.''

Other Microsoft competitors did well as investor's absorbed Judge Jackson's Findings of fact. Sun Microsystems ended at an all time high, up 2 5/16 to 112. IBM ended a several day downtrend bouncing up 3 5/8 to 93 3/4 on the Microsoft news.

Two alternative OS ventures really soared. Be Incorporated (BEOS) jumped 2 11/16 or (70%) to close at 6 1/2. While Red Hat Inc. ran up 18 1/16 ( 21%) to close at 104.

Akamai (AKAM) gained 13 5/16 points to 187 9/16 and Arm Holdings (ARMHY) also moved ahead 13/16 to 96 1/16.

Some investors sold stock on the negative aspects of the Findings of Fact. Microsoft dipped 10 points in pre-session trading, but bounced back quickly to 89 15/16 at session's end, down only 1 5/8 points. Better than 10% of the Dow's volume today was the churn in Microsoft and MSFT's capitalization amazingly fluctuated over 50 billion today. Dell and Compaq also shed some weight. Gateway maintained a 1/2 point gain to 73.

Macromedia rose 13/16 to 61 11/16 as they announced Dreamweaver 3 Fireworks 3 Studio will ship in December. Motorola saw a bit of profit taking after their stellar run up last week, down 2 7/8 to 111 7/16.

The 30-year Treasury bond yield rose to 6.058%.

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.

Apple



Today's Mac Headlines

[Podcast]Podcast - Apple Weekly Report #135: Apple Lawsuits, Banned iPhone Ad, Green MacBook Ad

We also offer Today's News On One Page!

Yesterday's News

 

[Podcast]Podcast - Mac Geek Gab #178: Batch Permission Changes, Encrypting Follow-up, Re-Enabling AirPort, and GigE speeds

We also offer Yesterday's News On One Page!

Mac Products Guide
New Arrivals
New and updated products added to the Guide.

Hot Deals
Great prices on hot selling Mac products from your favorite Macintosh resellers.

Special Offers
Promotions and offers direct from Macintosh developers and magazines.

Software
Browse the software section for over 17,000 Macintosh applications and software titles.

Hardware
Over 4,000 peripherals and accessories such as cameras, printers, scanners, keyboards, mice and more.

© All information presented on this site is copyrighted by The Mac Observer except where otherwise noted. No portion of this site may be copied without express written consent. Other sites are invited to link to any aspect of this site provided that all content is presented in its original form and is not placed within another .