AAPL Still Pushing for New Heights, at $609 [Update]

| Apple Stock Watch

 

Apple

[Update: AAPL couldn’t hold on to its earlier gains, ending the day lower at $602.50, down $3.46 (-0.57 percent), on moderately light volume of 23 million shares trading hands. - Editor]

The markets are mixed during Wednesday’s trading session, but shares in Apple Inc. continued to push for new highs through most of the trading day. As of this writing, AAPL was trading at US$609.07, a gain of $3.11 (+0.51 percent), on moderate volume.

 

If the stock manages to close higher, it will represent the 16th record high in the last 25 trading sessions, during which the stock jumped by some 20 percent. It would also be the fourth straight record close.

That said, at the current price quoted above, the stock has risen 50.4 percent in the last two and a half months, since the beginning of the year. AAPL closed at $405 per share on December 30th, 2011, the last trading day of that year, and the stock has gained $204.07 since then.

The recent push was sparked in part by the announcement of a quarterly dividend of $2.65 per share, which announced on Monday, and also by the launch of the new iPad, which shipped on Friday. On Monday, Apple announced it had sold some three million new iPads in the first three and a half days of availability, a record launch.

As noted above, the broader markets were mixed on Wednesday. The DOW was down some 21 points, while the NASDAQ (up 15) and the S&P (up 0.53) were both in positive territory.

*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.

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Comments

Constable Odo

Apple finished well down today.  Must have something to do with the Heatgate Chronicles.  Three million iPads sold over the weekend have been long forgotten.  iPad user complaints have taken over the blogosphere and have probably reached investor’s ears.  Either that or Apple has just plain run out of steam after breaching $600.

Lee Dronick

I don’t know Odo, some butterfly effect, real or imagined, probably triggered a computer generated sale. It is only down 0.57%

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