|[3:30 PM] Apple Stock Watch: Apple Rebounds To Close At Yet Another All-Time High
Another day, another new closing high for Apple? That's the way it seems of late and Apple again showed that it still has strength for a continued rise. Trading was head in the markets one day ahead of the release of the Consumer Price Index, a key inflation indicator looked at closely by the Federal Reserve. This low volume may have helped Apple as investors looked for strong companies in which to put their money. Apple Expo and reports of a new iMac model to be announced was also a likely positive contributing factor.
Apple closed at 77 13/16, a rise of 2 13/16 or 3.75%. Volume was moderate with 3,466,200 shares trading hands. Apple traded as high as 78 1/2, another high, but fell back in afternoon trading to just under 78.
Apple's PC competitors showed mixed results with Microsoft, Intel, and IBM closing higher. Compaq, Dell, Gateway 2000, and Hewlett-Packard all lost ground.
The Dow and the Nasdaq were also mixed with the Dow closing at 10910.33, a loss of 120.00, while the Nasdaq closed at 2868.29, a gain of 23.52.