Apple’s Stock Climbs Above $600 in Broad Rally

| Apple Stock Watch

AppleShares in Apple Inc. shook off Monday’s losses to climb back above the US$600 mark on Tuesday. The gains came amidst a broad rally sparked by lessening worries about Europe’s economy. As of this writing, AAPL was trading at $605.29, a gain of $25.16 (+4.34 percent).

The DOW was at 13,123.110, a gain of 201.70 (+1.56 percent); the NASDAQ was at 3,046.160, 57.76 (+1.93 percent); and the S&P 500 was at 1,390.890, up 21.32 (+1.56 percent).

If Apple’s stock can hold on to its gains to close in positive territory, it will end five straight days of decline after Apple hit an all-time closing high of $636.23 on April 9th.

The stock has been on a massive rally since the end of 2011, when the stock closed at $405. At today’s trading price, the stock has gained 49.5 percent in the three and a half months since.

Earlier on Monday, TMO covered the lack of consensus on iPhone unit sales for 2012. Numbers range from 26 million units on the low end to 44 million units on the high end, with the smart money in the middle of that field.

We also covered a research note from Sterne Agee analyst Shaw Wu, who told clients that if Apple releases a smaller iPad—call it an iPad mini—that it would be, “the competition’s worst nightmare.”

Apple reports its March quarterly results on April 24th.

*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.

Comments

mhikl

And Apple stock surpasses Google stock by a few cents, for the first time.

Would this have been an incentive Eric & Larry planned the stock split, counting on it happening before Apple stock value passed Google’s?

Bryan Chaffin

Note that per share price comparisons are irrelevant unless the companies being compared have the same number of shares outstanding.  Even with Google’s announced (but not yet implemented) stock split, it will have only 2/3 (roughly) the number of shares as Apple.

For a proper comparison, look at the market cap. There, Apple has surpasses Google for a while now.

mhikl

Good point, Bryan. I get market cap but hadn’t thought about numbers re shares. Numbers bore me but now I will be more aware. Still, for the ignorant (as in not knowing, not the nasty meaning) whenever there’s some measure that makes Apple look good, time for a Brooski.

Bryan Chaffin

Totally understood, mhikl. smile

One more note, market cap is merely share price times the total number of shares outstanding. I’m thinking that might help bring it home.

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