“Apple Computer’s newest store in San Francisco has twice run out of the iPod mini music player since opening 12 days ago, and such demand has fueled a 22 percent increase in the company’s stock in the past two weeks,” Peter J. Brennan reports for Bloomberg News. “‘We sell iPod minis like crazy, and it’s been a wonderful hit for us,’ said Travis Fears, a floor manager at the store. ‘We have been thrilled so far.'”
“Shares of Cupertino, Calif.-based Apple have risen to their highest since September 2000 as investors bet the business-card-sized iPod mini, released last month, will boost profit. The gains may help vindicate Chief Executive Officer Steve Jobs’ push to stimulate sales with new products. Last year, Apple unveiled a fast desktop computer, a laptop with an extra-wide screen, and iTunes, an online music store,” Brennan reports.
“‘The iPod is a success beyond anyone’s wildest expectations,’ said Jim Grossman at Minneapolis-based Thrivent Financial for Lutherans, which owns Apple shares. ‘It is driving store traffic and convincing people to consider that Apple does have great products,'” Brennan reports.
Full article here.