Shares in Apple Inc. advanced Monday, moving the stock back towards the high end of its three month trading range. The gains came on the heels of new product announcements from Apple, including new iMacs, a new 27” LCD display, a new Mac Pro, a new trackpad, and a battery charger.
AAPL closed at US$264.08, a gain of $4.80 (+1.85%), on light volume of 20.7 million shares trading hands. The stock traded at an all-time high of $279.01 on June 21st, dipped to the $240 mark in July, only to begin anew its climb after the company released its June quarter earnings report on July 20th.
That earnings report included record revenue and earnings for the June quarter, as well as guidance for the September quarter of $18 billion revenue and earnings per share of $3.44. The revenue number would reprsent another quarter record, and Apple has a track history of offering very conservative guidance.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.