Shares in Apple Inc. jumped more than 6.6% Tuesday, as the company joined in a broader tech rally that lifted the sector after several days of declines. The tech rally was sparked in part by a mi-quarter report from Texas Instruments that gave investors the first glimmer of hope that a rebound in the economy could be near.
The Nasdaq leapt almost 6% in Tuesday's early afternoon session, while the Dow was up 4.5%, and the S&P 500 was up 5.23%. Tech stocks such as Microsoft (up 7%), IBM (up 2.2%), Google (up 5.1%), HP (up 4.6%), and even Dell (up 7%), all joined in the rally.
Apple-specific news that The Mac Observer is currently working on include mainstream rumors that Apple is close to announcing a netbook device of some sort. Both bits of news may be helping to feed AAPL's rally.
As of this writing, AAPL was trading at $88.61 per share, a gain of $5.50 (+6.62%) on moderate volume.
[Edit: This article originally included a reference to Steve Jobs appearing at a Disney board meeting, a Marketwatch story that was subsequently corrected by the media outlet to say Mr. Jobs had not appeared at the meeting. - Editor]
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.