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Apple fell almost two points today to close at 44 3/8, down 1 13/16 or 3.92%. Losses claimed Apple's PC counterparts as well as IBM, Dell, Hewlett-Packard, Gateway 2000, and Compaq all retreated.
Wall Street was reacting to a report that said the consumer prices had risen by .7%. According to an AP report:
The selloff in stocks was sparked by the Labor Department's announcement that consumer prices rose 0.7 percent in April, the largest monthly gain in nearly nine years. The report was especially jarring following Thursday's producer-price report, which suggested inflation was subdued.
Today's losses also followed a record day on the Dow and a huge increase of over 20 points for IBM.
The Mac Observer Spin: What is interesting is that Apple continues to stay in the above-40 range despite broad market selloffs. In days not too far gone, Apple would have likely tanked in the face of such a report. It is just strange to be living in a world where Apple is treated like a normal company.
Apple
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