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October 11th, 1999

[3:45 PM] Apple Stock Watch: Apple shows strength on a slow Columbus Day
by Wes George

Apple kicked off its 4th quarter earnings announcement week on a strong note advancing 1 5/8 to 66 7/8 on less than half of its average volume with 2,349,300 shares trading hands. Today is Columbus Day and all the markets showed very low volume. The bond markets were closed. The Dow closed down 1.58 at 10648.18.

The NASDAQ set a new high advancing 29.42 to 2915.99 in an afternoon rally led by the semiconductors. Motorola was up almost 4%. Intel announces 4th quarter earnings tomorrow and they are expected to show strong growth. The last time the NASDAQ set a new high was on Sept. 10. So far this year the NASDAQ is up 33%.

In general today was a good day for the tech stocks, IBM, Dell, Gateway, HP and even Compaq closed up with modest gains. Apple announces its 4th quarter earnings in a conference call with Fred Anderson on Wednesday. We'll post the phone numbers and time for the conference call tomorrow.

On the Mac-software front, Macromedia, Symantec, and Adobe all closed higher with Adobe posting a 5% gain. Motorola joined IBM on the positive side as all the Mac related stocks we cover closed in positive territory.

Microsoft was the lone holdout to close lower after announcing a deal with Ask Jeeves.

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. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.


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