| Apple's stock closed up 1/2 point today to close at 47. This represents a gain of 1.08%. This came as the other major computer manufacturers also closed up including IBM, Dell, Gateway, Compaq, and Hewlett Packard.
The market as whole also saw gains as the Dow edged back towards 11,000 to close at 10955.41, a gain of 69.30 and the Nasdaq closed at 2534.40, a gain of 49.28.
The market was reacting favorably to reports that AT&T had reached a deal on the purchase of cable operator MediaOne Group. AT&T had been in a bidding war with ComCast over MediaOne, but ComCast dropped out of the race giving the deal to AT&T.
There was also a favorable mention of Apple in an editorial by Paul E. Erdman of CBS MarketWatch called Swiss view of the U.S.. That report simply pointed out that Apple was one of the many American companies that had successfully refocused their efforts on the Internet and placed Apple in the company of Lucent Technologies and IBM. Always good imagery for Investors.
Apple's stock continued to trade in heavier than normal volume with 5,165,100 shares trading hands. This represents slightly less traffic than most of the last two weeks, though it was still well above the average of 4,286,136 shares trading.
The Mac Observer Spin: 47 is a nice solid number for Apple while the Market continues to get used to Apple being a real company. You can read yesterday's Apple Stock Watch to see some of the factors that could continue to effect Apple's stock price.
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