After crashing in after-hours trading on Tuesday, Appleis stock regained some losses on Wednesday and completely erased them on Thursday. At the close of trading on the Nasdaq, the companyis shares were selling for US$53.74, up $4.49, or 9.12%, for the day.
Apple shares nosedived on Tuesday after the company reported financial numbers that were mixed compared to Wall Streetis expectations, especially the number of iPods sold. However, iPod sales were up sharply compared to the prior-year quarter, and some analysts pointed out that Wall Street expectations were perhaps too exuberant.
Confirmation of the iPod nanois success, coupled with the excitement over Wednesdayis introduction of a video-capable iPod, seemed to reassure investors that Apple continues to be on the right track.
4:22 PM EST: Updated article with Appleis closing stock price.