The rally begun yesterday after the Fed cut interest rates
by a half point has continued today, and that includes AAPL. AAPL is trading at 17 13/16, up 1 7/16 or 8.78%. The stock is seeing very heavy volume of 10,224,900 shares trading hands, higher than the average total daily volume AAPL normally sees with more than three hours left to trade.
Price cuts to Appleis product line, next weekis MACWORLD San Francisco Expo, reports on C-Net of faster PowerMacs, and new coverage by Needham & Co are all contributing to Appleis rise today. Needham & Co. initiates coverage with a "Buy" rating.
We will be offering a full report on todayis performance of AAPL in the Apple Stock Watch.