A Monday rally saw shares in Apple Inc. and other tech companies regain much of what they lost late last week. AAPL was trading at US$253.09, a gain of $17.23 (+7.31%), on heavy volume of 30.7 million shares trading hands in the late afternoon session.
Investors were largely reversing course on Europe, reacting positively to plans from the European Union to bail out Greece — it was concerns over that very same issue that sent tech stocks retreating last week.
Microsoft climbed to $28.815, a gain of $0.605 (+2.14%); Google rose to $521.52, up $28.38 (+5.75%); Cisco closed higher at $26.0, up 1.33 (+5.38%); and Intel rose to $22.4327, up 1.1227 (+5.27%).
Apple had shed more than $20 a share late last week, closing on Friday at $235.86. The company’s closing record was set on April 23rd, when the stock closed at $270.86 in reaction (in part) to Apple’s successful first few weeks of the iPad.
*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.