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October 7th, 1999

[3:45 PM] Apple Stock Watch: Apple Dips Again As IBM Drags Down Computer Stocks

Apple dipped again today as the market punished computer stocks amid negative comments on IBM (an excellent report from Reuters). Like many stocks, Apple started today in positive territory, but dipped into the red in late morning trading and never recovered. Apple closed at 66 3/8, a loss of 13/16 or 1.21%. Volume was moderately heavy with 5,409,700 shares trading hands.

Symantec, Macromedia, and Adobe all shared in the misery, though Macromedia was coming off an 8 point gain yesterday and a 15 point gain since October 1st hinting at profit taking as being a part of their loss today. Apple's PowerPC partners, IBM and Motorola, also closed lower.

On the PC front, Microsoft, Gateway 2000, and Dell both closed higher after Dell announced the Taiwan quake would have little impact on their operations. Intel, Compaq, and Hewlett-Packard joined the losers ranks.

The Dow and the Nasdaq closed mixed. The Dow closed at 10537.05, a loss of 51.29, while the Nasdaq closed at 2860.70, a small gain of 3.49.

For full quotes on all the companies mentioned in this article, we have assembled this set of quotes at Yahoo! for your reference. We also have these same quotes reported live (20 minute delay) on our home page [Editor's Note: As of this writing, the home page stock quotes are down for maintenance.] For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.


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