AAPL Jumps Another 4% to $96 per share in Third Straight Rally

| Apple Stock Watch

Shares in Apple Inc. enjoyed a third straight day of strong gains to close at US$96.35 per share Thursday, a gain of $3.67 (+3.96%). The stock was buoyed by news of a media event to preview iPhone Software 3.0, while the markets as a whole also enjoyed a third day of rallying.

The Dow Jones closed above the important 7,000 mark at 7,170.06, a gain of 239.66 (+3.46%). The Nasdaq gained 54.46 points (+3.97%) to close at 1,426.10, and the S&P closed up at 750.74, a gain of 29.38 (+4.07%).

AAPL has gained some 15.9% during the last three days since it closed Monday at $83.11 per share. It is still well off the 52-week high of $192.94 that was set on May 14th, 2008.

*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.  

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Lee Dronick

There may be a correlation between the rise in share price and the rise in indignation about the new inline control earbuds.


Then again, there might not be.


What about those analysts and firms predicting Apple’s stock to fall, sales to decline, in other words the old gloom and doom? Apple is still trading at 10x the value of Dell’s stock, about 3x Microsoft’s and HPs.

Are they feeling dumb and glum instead?

Lee Dronick

What about those analysts and firms predicting Apple?s stock to fall, sales to decline, in other words the old gloom and doom?

Note the current cage match between Jon Stewart and Jim Cramer about the market. Have you all seen the video going around the web where Cramer talked about manipulating stock prices


Heck, even I realize my mistake in my post above. I said 3x Microsoft’s share price.

It’s actually 6x! (the fingers are tired from typing)

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