||Apple showed there is still plenty of oomph left in their current rise by closing at a new all time high! Stocks were propelled up from the onset of trading by a favorable labor report that eased fears of another interest rate hike. The result was lots of gains just about everywhere.
Apple closed at 73 1/2, a gain of 2 15/16 or 4.16%. Volume was very high with 14,600,600 shares trading hands. Apple traded as high as 75 1/4 today and fluctuated throughout the afternoon. Today's close blew by the previous high set on April 2nd, 1991 of 72 3/4.
Apple's PC customers also fared well with IBM, Compaq, Dell, Gateway 2000, Hewlett-Packard, Microsoft, and Intel all closing higher, many with substantial gains.
The Dow and the Nasdaq also posted steep gains with the Dow closing at 11078.45, a rise of 235.24. The Nasdaq posted its highest point gain ever (in terms of points, not percentage) and closed at 2843.11, an increase of 108.87.
The Mac Observer Spin: Apple still has some juice in it. New iMacs to be announced very soon should have another nice affect on Apple. Any jitters in the market could send the stock down as investors finally decide to lock in some profits.