Shares of Apple Computer (AAPL) rose $2.97, or 4.12% to hit $75.00 on heavy volume of 48,975,113 shares in NASDAQ trading today after earlier hitting the $76.60 mark.
In after-hours trading, Apple shares currently stand at $75.30, up another $0.30, or 0.40%.
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Related article:
Banc of America cuts Apple Computer target price to $82 from $85 – January 30, 2006
Nice to see a slight rebound.
Thanx goodness! Now only 300% to go.
I am breathing easier now.
Now we’ll see what happens with AAPL over the next few days now that Greenspan retires tomorrow — and he may up the prime rate again.
Phew. The last week or so has been going in the wrong direction. Good to see that turned around. Now lets see if we can grab 100 shall we?
Wow, I didn’t realize that Alan Greenspan (or the Fed) could actually change the Prime Rate. I thought that was set by individual banks. Hmmph.
DrDude,
The prime rate is the rate at which the Fed provides short-term liquidity to banks. Banks still set the rates at which they loan money to individuals or businesses, but they react to the Fed rate.
Clear?
anyone know what drove today’s jump?
wondering,
last week they went down – despite all the good news for Apple.
This week they’re going up – despite there being no news (good or bad).
…… works in mysterious ways.
mysterious to you and me maybe, but not the force that drove it. this move seems like it has a story behind it.
so… here’s the rumor from yahoo’s fin pages:
al-aweed dumped his shares to finance his hotel move.
There is some good speculation on the “no news” rally over at The Mac Observer’s finance board.
sorry, didn’t complete the rumor… al-alweed drove the downturn last week. now that it’s over, natural demand is drivng it up.
SELL
Take your profit, it’s topping out and ready to dive to a more reasonable price.
Then buy again for the longterm and when Intel starts shipping processors.
Selling content doesn’t make diddly.
Madhatter is WRONG! Apple was profitable evenm when it was falling apart. As the distributor of others’ content, it makes money with minimal effort. The infrastructure is in place for MASSIVE growth.
This company is poised for the long term.
Bear of America, er, Banc of America lowered AAPL, so it went up. Simple as that.
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By the way, MadHatter–
How much time do you have to spend spreading FUD? All over MacsimumNews, too.
Bill? Bill, is that you?
I missed the MD News articles about the 17% dump, must have been on vacation.