Appleis stock has shot up 6.9% in early morning trading. Upward guidance from Microsoft yesterday, coupled with results from Yahoo! and Motorola that met expectations (more or less), have helped spark a tech rally. Investors are hoping that these results are indicative of an economic turn-around and are bumping stocks accordingly. Rumors began circulating yesterday that Apple would meet or exceed its own consensus estimates as well, and that has contributed to the 13% gain AAPL has experienced since Tuesdayis close.
As of this writing, Apple is trading at 24.10, a gain of 1.56 (+6.92%). Thatis 3 cents off the dayis high.
Any sort of bad economic data or a new warning from a tech company could easily derail the rally. Apple reports on Tuesday, July 17th, the day before the MACWORLD Expo keynote.