Apple leads strong recovery for tech stocks

“Technology stocks made a strong rebound Tuesday as Apple Inc. and VMware Inc. shares led a broad rally across the sector,” Rex Crum and Dan Gallagher report for MarketWatch. “The rally came after four straight days of selling that pushed the entire sector down.”

“Several of the year’s hot performers in the tech sector saw their valuations take a notable correction in the last week of trading,” Crum and Gallagher report. “Shares of Apple Inc. (AAPL: 169.06, +15.28, +9.9%) , Google Inc. (GOOG: 654.61, +22.54, +3.6%) and Research in Motion (RIMM: 109.62, +7.02, +6.8%) had all surged to new all-time highs by the close of the market on Tuesday, Nov 6. By Monday’s closing bell, those three stocks had given up an average of nearly 19% since peaking.”

“Apple led the recovery, with its shares jumping [nearly 10%, to $169.06]. The action came amid reports of strong initial sales of the iPhone in the U.K. Some of the reports said that Apple sold as many as 70,000 iPhones on the first weekend of sales in Britain,” Crum and Gallagher report.

Full article here.

9 Comments

  1. The future for AAPL:

    From Vanity Fair:

    “The age of the media gadget is here, with Apple steamrolling the big distributors. But when consumers have the power to get content anywhere, anytime, for free, even Steve Jobs should be worried.”

    When the master of showmanship is in control, all is well. When he loses control, his company will follow.

    There are other “Steves” out there and they are coming on fast to bedazzle the sheep. So, we AAPL holders should beware.

  2. “valuations take a notable correction in the last week of trading,” Crum…”
    Sounds like Crum is a Bear using the word “correction.” I’d prefer to think of it as a raid on the surplus build up during the run up to $191. Hopefully it will keep going up!

  3. The other “Steves” need to combine his showmanship with his substance. More important than his showmanship is his ability to recognize and cultivate quality. There are lots of showman out there, but very few can create and maintain quality while putting on a show.

    MDN Magic word: eforts — As in, their efforts will be for naught if they don’t have the goods to back up the show.

Reader Feedback

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