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AAPL Slowly Climbing from Abyss

AAPL Slowly Climbing from Abyss

by , 4:20 PM EDT, March 26th, 2008

AAPL has climbed back into the US$140+ range after a series of devastating reports on the U.S. economy led to a massive selloff in January and February. AAPL had recently declined to a level, $120, that hadn't been seen since before the iPhone fever of 2007.

Now, investors are coming back to Apple. The stock hit a high of $145.74 on Wednesday and is holding in the $140 range after lingering in February and March in the $120 mark. In late February, AAPL actually dipped below $120 per share.

Some recent good news in the housing market, Federal Reserve rate cuts, federal backing of lenders and lessening demand for gasoline resulting in a slightly reduced price of crude have all contributed to easing concerns somewhat in the market. As a result, some measure of confidence seems to be emerging as the Apple bulls find a little more confidence in the economy and subsequently the consumer's interest in all things Apple.


Source: eTrade AAPL (with moving average)

In afternoon trading, AAPL is at US$144.32, up $3.34 for the day.


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.


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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