Apple’s push for new products fuels 22 percent stock surge

“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.


  1. I’ve seen more different claims about why Apple stock is up… each one sounding pretty certain and none agreeing ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

    This one makes more sense to me than Sony buyout rumors.

  2. “We sell iPod minis like crazy”

    Give us some numbers! If you set your expectations/goals low, then it does not take much to make “crazy” sales.

    “San Francisco has twice run out of the iPod mini music player since opening 12 days ago”

    And what about the other Apple stores across the country, are they experiencing this also???….and what are the numbers!

    Too many stock price moves are based on rumor and emotion, not any solid news.

  3. My APPL is doing better than all my other stocks combined. The only problem is I am emotionally attached to it. ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  4. Sony buyout rumors? BW-HA-HA-HA-HA!!!!!!!!!!!! *sniff man, that’s funny.

    Apple will never be bought. If anything, they continue to do the buying of other companies.

  5. I’m with KL. The last time I bought AAPL was at $50, the day before it fell. 🙁 So I’m not going to touch it. Reap the rewards everyone! ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

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