September 7th, 1999

[3:30 PM]
Apple Stock Watch: Apple Sets Another High, Closes Over 76!
Apple has set another high today on Wall Street as the stock continued its sleigh ride to Financial Nirvana. Trading among many tech oriented stocks was mostly higher throughout the day, but Apple was buoyed not only by their own performance, but by favorable comments coming from Warburg Dillon Read and a new target price of US$90 set by the analysts.

Apple closed at 76 3/8, a gain of 2 7/8 or 3.91%. Volume continues to be high as excitement surrounds the company. 8,784,800 shares traded hands today. Apple's previous high was set on Friday when Apple closed at 73 1/2.

Despite showing gains throughout much of the day, PC related stocks closed mixed. IBM, Hewlett-Packard, and Gateway 2000 closed higher, while Dell, Compaq, Intel, and Microsoft all closed lower.

The Dow and the Nasdaq both closed lower with the Dow closing at 11034.13, a loss of 44.32, and the Nasdaq closing at 2837.26, a slight loss of 5.85.

You may be interested in reading today's column from The Apple Trader titled Buy AAPL or get left behind for good!.

For other articles on Apple's stock performance, check out our Apple Stock Watch Special Report.

The Mac Observer Spin: It is amazing that Apple has not fallen victim to profit taking during the last 10 days or so. In our opinion, this is indicative of the newfound faith Wall Street has placed in the company.