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March 22nd, 2000

[11:20 AM] Apple Hits 140 In Intraday Trading For The First Time!
by Wes George

Apple's stock (AAPL) briefly touched US$141.25 this morning for a new intraday all time record high before settling back into the US$130s. AAPL is experiencing a massive price surge after dipping to US$114 as recently as March 14th.

It's hard to believe, but one year ago this week AAPL was trading in the US$32-35 range, while naysayers were predicting the end of the iMac "fad" and the continued decline of the Mac platform.

Although there is no specific news out of Cupertino driving the stock higher, it appears that investors are piling in ahead of Apple's earnings announcement for the 2nd fiscal quarter of 2000 on April 14th. A number of analysts are expecting unusually strong Mac sales in this normally weak season.

Other investors may be attracted to AAPL at this time because of the eminent release of OS X. Yesterday, Apple announced Steve Jobs will deliver the opening keynote address at this year's Worldwide Developer Conference (WWDC), which takes place May 15-19 at the San Jose Convention Center in San Jose, California.

The press release quoted Mr. Jobs, "This conference will be the most important event of the year for Mac OS X developer and marketers. We're planning for the biggest and best developer conference in Apple's history."

Apple also has yet-to-be-announced plans for some variety of stock split later in the year. We won't even mention the numerous unconfirmed rumors of wireless and/or handheld products in development.

The Mac Observer Spin: It must be very gratifying for long term AAPL investors, who have put up with a lot of negative nonsense over the years, to watch Apple triumph. Apple's vocal opposition is dwindling. For example, James Poyner, a once influential PC analyst who consistently declared Apple dead, lost his job at CIBC Oppenheimer late last year. According to Eric Yang of, "Oppenheimer quietly withdrew its "sell" rating on AAPL a few month ago when the analyst left the company."

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


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