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Apple closed higher again for the third straight session, rising almost 4%.
Apple closed at 46 9/16, up 1 3/4 or 3.91%. Apple saw heavier than usual traffic as 4,645,500 shares traded hands. As with yesterday, that amount is actually lower than the current average of 4,853,636, though much higher than has been typical in the last 10 or so sessions. During that time, Apple's stock has seen shares trading hands in the 3,000,000 to 3,500,000 share range.
Apple's PC competitors also closed mostly up, though Hewlett-Packard and Gateway 2000 both closed in negative territory. IBM, Compaq, and Dell all closed up.
The Mac Observer Spin: Apple has been buoyed by a recent wave of analyst support and a dawning realization on Wall Street that Apple's future is bright because of the way they are approaching selling computers (see our report titled The Apple Stock Watch Special Report for other articles on this subject). At the same time, PC manufacturers, still mired in a world of beige boxes despite the success of the iMac, look to be less profitable in the coming years.
Of course, only time will tell if Apple can continue this climb, a climb that began on April 22nd, but has lagged during the last 2 weeks.
Apple
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