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September 1st, 1999

[4:15 PM]
Apple Stock Watch: Apple Rockets Up Another 5%, Closes Over 68
In a volatile trading day, Apple again reaped the benefits of the G4 and other Seybold announcements. Traders pushed Apple to yet another high, this one going all the way back to February 26th, 1992, 7 1/2 years ago, when the stock traded at 69 7/8. Apple closed at 68 11/16, a big rise of 3 7/16 or yet another 5.27% on top of the 5.14% gained yesterday. Volume was very heavy with 7,035,000 shares trading hands.

The markets started the day in negative territory, but Apple shot up almost immediately and traded as high as 68 13/16.

Apple's PC competitors did not fare so well, though IBM and Intel both bucked that trend and performed well. Intel announced a new product line of chips dedicated to network processing.

Dell, Gateway 2000, Hewlett-Packard, Compaq, and Microsoft all closed down.

The Dow and the Nasdaq managed late rallies to close in positive territory. The Dow closed at 10937.88, a gain of 108.60, while the Nasdaq closed at 2750.80, a smaller gain of 11.45.

The Mac Observer Spin: The markets are excited about the G4 and that's all there is to it. Many may find this surprising when Wall Street mostly ignored the goings on at Apple for so long, but what matters is that they are listening now.


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