Apple Stock Recovers From iPhone Scare

Apple Stock Watch

Jeff Gamet

3:00 PM, May. 16th ET, 2007

Articles by Author Jeff Gamet on Twitter Contact Author Bio

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Following the two-day rollercoaster ride called iPhone, Apple stock recovered to close on Thursday at US$109.44. The companyis stock dropped several points on Wednesday after a bogus email that appeared to have come from Apple stated that the iPhone and Mac OS X 10.5 would be delayed.

The Mac and iPod makeris stock started to climb again on Wednesday after Apple confirmed that the email was fake, and it continued to rebound on Thursday. Thursday afternoon the stock began to climb even quicker after word surfaced that Apple had finally received FCC approval for the iPhone, allowing product development to stay on schedule for a late June release.

Apple stock opened at $107.34, and rose as high as $109.87 before settling at $109.44 for the day. Apple is currently trading after hours at $109.46, up 0.02 (0.02%).

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