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October 25th, 1999

[3:45 PM] Apple Stock Watch: Stocks Wobble, Apple Up $9/16
by Wes George

The stock markets started the week on a soft note declining sharply on the news that bonds were down while the 30-year treasury yield hit a 2 year high of 6.39% briefly before settling back to close at 6.35%. The markets were able to cut some losses late in the day. The oil stocks, financials and many tech stocks took a beating while the Internet sector and telecommunications rose.

The Dow declined 120.32 or 1.15% to close at 10349.93. The Nasdaq was down 0.58 to close at 2815.94. The S&P 500 sagged 8.03 or 0.62% to close at 1293.62.

Apple rose 9/16 today to close at 74 1/2. Apple got a boost today from ARM Holding plc (ARMHY) up 9 points on news that Intel is going to use their RISC based ARM architecture chip design in future products. ARM, a company which Apple owns a significant stake in, was also upgraded by BancBoston Robertson Stephens to a buy.

In Apple related stocks today, Adobe and Symantec both closed down. So did Apple's Power PC partners IBM and Motorola. Apple's rivals Gateway, Dell and Compaq also declined. Macromedia beat the trend by gaining over 5 today to close at 58 3/16 on news that BancBoston Robertson Stephens initiated covered of them with a buy rating last Thursday. Intel bombed more than 2, despite the release of the new Pentium III chips today. Microsoft joined the losers circle closing down 1/4.

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



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