This Story Posted:
June 3rd, 1999

 
 

[3:59 PM]
Apple Stock Watch: Apple Hits 4th Straight Day Of Price Increases, Closes Over 47
Apple has closed in positive territory for the straight trading session to close above 47 for the first time in almost a month when the stock closed at 47 on May 5th. Apple closed at 47 7/16, up 7/8 or 1.88%. Apple saw somewhat heavy volume today as well with 4,359,400 shares trading hands. As with the few trading sessions, this level is below the current average of 4,833,909 shares, but above the actual traded amount during the last few weeks.

Apple's PC competitors did not fare so well as all but Hewlett Packard closed down, including IBM, Dell, Compaq, and Gateway 2000.

The Mac Observer Spin: The Wall Street Gods still smile upon Apple while turning the two-faced frown on PC manufacturers. The P1 is a bog part of this, but we still feel that Wall Street is just now comprehending the path that Apple has taken. There seems to be nothing but good vibes surrounding the company, its products, their direction, and their future. Notice there have not been any articles from the main stream or PC-oriented press asking whether the iMac was nothing more than a fad.

Only 8 weeks ago, it was the two-faced frown that Apple was basking in, and not the smile. I <PURE SPECULATION> Apple could well be headed back in the US$50 range as we get closer to MacWorld Expo New York.</PURE SPECULATION>

One thing that is nice about this current wave of stock price increases is that it is not coming in large jumps. This makes the stock somewhat less prone toward corrective falls from investors seeking to lock in profits. Less prone, but not immune of course.

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