Apple hits another new 52-week high on product news

“Investors pushed shares of Apple Computer Inc. to another 52-week high yesterday, the day after the Cupertino, Calif.-based company announced another new product that could boost its digital entertainment product portfolio,” David Akin reports for The Globe and Mail.

“‘Apple is undergoing a transformation from a cool computer company to a leading provider of digital entertainment and media solutions for professionals and consumers,’ analyst Steve Lidberg said in a research note published yesterday. Mr. Lidberg’s firm, Pacific Crest Securities of Portland, Ore., initiated coverage of Apple with that note. Pacific Crest has no investment-banking relationship with Apple,” Akin reports.

“The stock, which trades on the Nasdaq Stock Market, hit an intraday 52-week high of $30.44 (U.S.) — the second day in a row it hit such a high — before settling to close at $30.35, an improvement of 54 cents or 1.8 per cent from the previous day’s close. The stock hit its 52-week low of $16.63 in June, 2003,” Akin reports. “Analysts say the stock has nearly doubled in the past year largely thanks to the success of the iPod, a portable digital music player.”

Full article here.


  1. In other news, Thurrot and Endrele hit their lowest levels in believablity and credibility in not pointing out that Intel has the same problems IBM has in getting out 90nm processors. And their obsequious ignorning of Longhorn’s continuous announcements of delays.

  2. i don’t know where is a good place to post a question,
    so i thought i’d do it here.

    with the recent flurry of product annoucements from
    apple, i wonder what other “bigger” surprises steve jobs
    have up his sleeve for the upcoming WWDC2004?

    anyone with any ideas?

  3. At this point, everyone is wondering how Steve will handle the 3GHz question and when it can be expected. I know you’re really asking about what could the big news be on hardware of software. My suggestion is to just submit to the RDF Steve will spin over the audience and go wild when you encounter anything real.

    Me, I’m still hoping for a G5 iMac — despite what’s on MacCentral.

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