Apple tearing up The Street, up strongly to hit new intraday 52-week high

Shares of Apple Computer (AAPL) are up $2.20, or 7.17%, to hit a new 52-week intraday high of $32.89 per share in heavy volume (14,029,382) morning NASDAQ trading. Apple’s previous 52-week high, set on June 15, 2004, stood at $31.14. Earlier today, AAPL hit an intraday high of $33.32.

NASDAQ Apple quote (15-minute delay) here.

15 Comments

  1. The thing is Apple has very little resistance now that it broke through $30. While I believe there will always be profit taking and pulling back after the WWDC keynote, over the next year it can easily break $40 if AAPL has no negative surprises.

  2. Yeah, but you would have needed to buy at least 1,000 shares back when it was $14 in order to really clean up. And I know I don’t have $14,000 lying around to invest in a stock even if I knew it was going to explode like Apple’s has since then. 🙁

  3. over the next year it can easily break $40 if AAPL has no negative surprises.

    spoken like a true broker. if any stock can go a year with zero negative surprises, it’s bound to go up. “if” always being the hangman’s noose.

  4. To-day IBM and Microsoft declined to join other tech companies in opposing accounting changes in which options would have to be expensed which is what Sun and Intel do not want to do…and Microsoft stopped issuing options altogether and now just pays salaries … imagine that. Whereas Apple’s profits would disappear entirely if options had to be expensed, and they will be … it’s just a matter of time. The question is when will the market recognize the downside risk. The old rules to follow are: 1. pigs don’t make money in the market and 2. you never lose money by taking your profits early.

    Apple trades at over 40 times “earnings” whereas the earnings exclude options expense. Got that?

    So I sold my measly holdings as the accounting rules at present are simply unreal. Due to the influence of dot com and tech companies. But then, I’ m an accountant by trade.

  5. Howards,

    When they give employees stock bonuses the holders and buyers of the stock are informed of the dilution of their stock holdings. Isn’t that enough? No crime there. Apple bought back much stock when it was around $14. Why should they have to cost it out at $30 when they give it to employees? No law against what they are doing. No understating of earnings, just public dilution of stock value. You didn’t like it. You sold your holdings. Everything worked as it should.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.