Shares of Apple Inc. [AAPL] today gained $5.91, or 4.87%, to set a new all-time closing high of $127.17 per share on volume of 41,479,087.
Apple’s previous 52-Week and All-Time High closing high was $125.09 set on June 18, 2007. AAPL’s all-time intraday high was set June 7, 2007 at $127.61.
Apple’s 52 Week Low stands at $50.16, set on July 14, 2006.
Apple’s market value currently stands at $109,995,437,160.
AAPL quote via NASDAQ here.
[Thanks to MacDailyNews Readers “TheReal” and “ChrissyOne” for the heads up.]
MacDailyNews Note: “I am putting a sell on Apple, the company that created the iPhone,” Laura Goldman, investment advisor, LSG Capital, May 21, 2007. AAPL closed at $111.98 that day.
Someone should start a Goldman Counter – number of dollars AAPL has increased in market cap since her infamous sell rating
Wrong Headline, it should read: ” Apple shares hit new all-time closing high – again”.
Here we go again… To make these “new high” articles more interesting, MDN should include a table with ongoing comparisons of total market cap for AAPL with DELL. HPQ, MSFT, and other relevant stocks.
Any of Laura Goldman’s clients who sold AAPL must be pissed at this point.
List of people whose opinions are absolute rubbish:
1. John C. Dvorak
2. Rob Enderle
3. Rob Glaser
4. Anyone at CNET.com
5. Laura Goldman
6. Bill “No longer the richest man in the world” Gates
7. Steve “Monkoy Boy” Ballmer
Add more if you like.
Sorry…that’s Monkey Boy.
Yeaaahhhh, baby!
the funny thing is these idiots have helped AAPL holders make $$$$ buy getting in on their fud
I wonder if larger investors get that same benefit?
HELL YES THEY DO.
all this FUD makes billions
greed
AAPL is just starting people
get in
I LOVE MY IPHONE
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Need to close above $127.61 to go higher.
CheekyGit… could we exempt CNET’s lovely Veronica Belmont? btw, when is she gonna dump that Apple hater Mr. Block? On Sunday’s TWIT she sounded irked with him, nice. MW-‘eyes’… exactly.
AAPL rose today to new closing highs … but it did so on no news at all.
That means this is a technical breakout, and not reflective of any deeper fundamental change.
The reason AAPL went up today is that the stock failed to go down yesterday. Why should that matter?
Because yesterday both professional and amateur traders were expecting a sell-the-news reaction. Many traders entered into short positions in anticipation.
But yesterday the stock failed to make any significant new lows — the broader market was strong (first new trading day of the week, month, and quarter), and iPhone sales were robust.
So yesterday everytime the stock dipped, buyers stepped in.
And so did the momentum guys. Two, three, four times yesterday they tried to drive the price up to squeeze the shorts. Each time, the momo guys failed to push the stock above the $122 level – the shorts put up a serious fight. The net result yesterday was a draw, with the stock closing down modestly.
Today, the momo guys tried again. This time, the shorts were not able to put up much of a fight.
It didn’t take long. By 09:54 ET this morning (less than 30 minutes after market open), the stock breached the $122 level and stayed above it.
By 10:00 the upward trend was confirmed as the first pullback after the breach met with new buyers, and off to the races the stock went.
Bottom line: Today was a short squeeze, brought on buy a technical breakout above the $122 level that stymied the upward rally attempts yesterday.
The immediate term (~1 week) outlook for AAPL is good. Stock will most likely trend upwards or sideways from here, with any pullbacks being modest — straggling buyers who didn’t get in previously will buy these dip.
In the short term (1-3 months), the next significant catalyst for the stock will be the quarterly earnings report on July 25th, after market close.
Be warned, however, that the stock is priced for perfection, and any hint of slowing growth, falling margins, or management changes could easily trigger a selloff.
Happy trading!
From the PercyWalker.com website:
Laura Goldman was successfully charged with blackmail and false allegation against Thomas H Lee and was subsequently barred from the US. She’d made other attempts to extort money under threat of false allegation against many others including Peter Kaplan and the entire management team at Paine Webber. All fact, all public record. Now she runs “LSG Capital” which is basically just her and run from her two-bit apartment in Tel Aviv from where she recently issued a sell call on Apple at the same time as it was making repeated record highs. This disgraced and deranged individual should not be given a voice on sites such as these.
No sh*t!
If HP’s stock were to oscillate in a narrow range for the next few weeks, AAPL would only have to add another $10.00 or so to become the most valuable maker of personal computers on the planet at around $120 billion.
It would be 20% more valuable than Lenovo ($100 billion), over 80% more valuable than Dell and more than 2.3 times the value of Sony.
It would also be the most valuable mobile phone maker, beating Nokia ($114 billion) and Motorola ($41.39 billion).
It would also be worth 170 times the valuation of Gateway.
MCCFR: Thanks for the comparisons.
Just demonstrates the point that AAPL is priced for perfection.
Apple needs to focus on upcoming emerging markets to really have a good shot at Microsloth dominance.Open source has become popular, but Apple could corner the market with hassle and virus free operating system.
We are but are few, but our desire is just.
South Africa
There was news that moved the stock today. Big news. iSuppy’s estimatation of a fat profit for each iPhone. That has huge implications. It means Apple can milk the early adopters like me and then can lower the price and/or add features to get mainstream adoption.
MoMo Trader,
Your analysis is probably correct, but I do have to say that there is one bit of information that was released today that should trigger upward mobility on the stock:
55% margin on each 8GB iPhone
While iSuppli had speculated this would be so, it had not been confirmed and confirmation of such high margins is surely a reason for celebration.
I’d buy Apple, too, if I had the money and saw how much profit they were sucking out of iPhone users.
Damn phones should be $399 and $499, respectively.
That “estimate” of the cost of an iPhone didn’t include R & D, sales and marketing. Plus the touch-screen is totally new type of touch-screen tech. How do they really know how much that costs?
Then think about the X-factor—Microsoft or Sony could have taken the same components and slapped together something twice as big, clunky to use AND ugly. How do you price that?
@ ibookfast
“could we exempt CNET’s lovely Veronica Belmont?”
NO. She is included. Guilty by association is my belief.
macbookmad and Infomercials:
You’re right about the iPhone margin being higher than expected.
However, this news was actually published yesterday, before the market even opened.
See http://www.businessweek.com/technology/content/jul2007/tc2007072_957316.htm
So the iPhone margin news was in fact the trigger for the upward price pressure, but that applied to yesterday.
Therefore, today was indeed a technical breakout, once the stock breached the $122 level.
One counterargument: There were fewer traders at work today, since the market closed early (at 13:00 ET) for the July 4th holiday.
Counter-counterargument: Even if traders were fewer, upwards of 40 million shares of AAPL traded today. That’s a very healthy volume by any count and gives strength to the technical breakout.
Happy trading.
R2: “phones should be $399 and $499, respectively”
iPhone was sold out on most store. If anything, they should have charged more for them.
@ Synthmeister
I said the same thing yesterday.
What cost do you put on R & D for the past 2 years? (what Steve said on how long the phone was in development)
Engineers don’t get paid with play money.
For example:
Ten engineers paid $120k a year. (that is probably low for west coast)
So $120k * 10 * 2 years= $2.4 million in the hole that Apple needs to recover.
And I’m sure there were more than 10 engineers working on this.
The other thing to keep in mind is the “quality” of the components used.
Do you want transistor A, B or C? What is the difference? Well C is the cheapest but might die sooner, A is the most expensive but will last much longer and is more rugged.
After using the iPhone, I think Apple spent more money on QUALITY parts than the cheap ones in Dells and Gateways.
@ s
> iPhone was sold out on most store. If anything, they should have charged more for them.
I agree. The people who said it was too expensive were obviously wrong. The demand seems to indicate that iPhone could have been successful, even if the price was higher than $499 and $599. Interestingly, most of the buyers I saw interviewed (standing in line) indicated that they wanted the more expensive model.
Because of the demand, I don’t think Apple will reduce pricing anytime soon, even if iPhone’s margin is 50+ %. As a customer, I wish it would. But as a shareholder, I’d be mad if it did so too soon.
I can understand why people ask about the costs of the iPhone’s R&D, but the simple fact of the matter is that those costs have long since been expressed in the profit+loss (trading account) statements for the last few years.
In turn, the gross profits generated by iPhone will probably be used in any number of ways, including: –
• Future bulk purchasing of components, like the massive purchasing of flash memory from a few years ago. One imagines that these arrangements are crystallised in the balance sheet as short-term investments until they get stuffed into iPods, iPhones or whatever at which point they convert back into components that are accounted for through the P+L.
• More R&D: either Apple will accelerate the pace of development on existing Apple products – so you might see OS X 10.6 appear much quicker than you expect – or they might spend money helping acquired companies convert their software to Apple’s look & feel. See Shake, Final Cut, Logic and any other number of examples for reference. You may also see the range of iPhones and iPods broadened and development accelerated.
• Just a shed load of marketing and advertising: Along with future purchasing, this gets my vote for where the gross money will go.
And once the gross money has all the expenses taken out of it and become net profit, expect to see Apple buying or investing in independent software/hardware developers and service providers.