Shares of Apple Inc. bounced off the biggest one-day loss in four years on Wednesday to gain 1.57 percent on Thursday. The gains came during a broad market rally, but teasers from an interview with Apple CEO Tim Cook that will air Thursday night may have sparked investor interest, too.
$AAPL Chart for December 6th, 2012
Source: Yahoo! Finance
Mr. Cook was interviewed last week by NBC's Brian Williams, an interview that airs Thursday night. NBC has been teasing the heck out of that interview, posting snippets on its website. The two snippets that have gained the most attention are that Apple will move production of one of its Mac product lines to the U.S. in 2013 and that Mr. Cook is "intensely interested" in the TV market.
Trefis also issued a research note dismissing worries about Apple. The firm said that worries about Nokia getting a deal with China Mobile, margin rules changes with a clearing house, IDC projections for 2016, and other stories circulating about Apple, "have little to do with the fundamentals of Apple and don’t therefore impact our long-term view of the company from a valuation perspective."
Trefis reiterated its US$710 price target for $AAPL.
$AAPL ended the day at $547.245, a gain of $8.452 (+1.57 percent), on exceedingly heavy volume of 42 million shares trading hands. As shown in the chart above, the stock started the day in negative territory, but rallied in mid-morning.
*In the interest of full disclosure, the author holds a tiny, almost insignificant share in AAPL stock that was not an influence in the creation of this article.