“Apple Computer Inc. shares rose to a four-year high as demand for the iPod digital music player surges before the year-end shopping season, erasing the slump triggered in September 2000 by a disappointing profit forecast,” Connie Gugielmo reports for Bloomberg News.
“Shares of Apple rose $1.05 to $53.50 in Nasdaq stock market composite trading, the highest since Sept. 28, 2000, the day before the stock lost half its value amid lower-than-expected sales of Macintosh computers,” Gugielmo reports. “The company may sell 2.68 million iPods in the December period, almost four times the year-earlier total, Merrill Lynch analyst Steven Milunovich said yesterday. Demand for the music players, which let users download, store and play thousands of songs, made Apple the second-best performing stock in the Standard & Poor’s 500 Index this year.”
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