“Shares of Apple (AAPL) are up $6.38, or 1.4%, at $459.08, and briefly as high as $461.80, just above a 50-day moving average of $460.44,” Tiernan Ray reports for Barron’s.
“CNBC’s Seema Mody on the channel noted it was the first time the stock had broken its 50-day moving average since October 29th,” Ray reports. “A close above the average today would be the first time since October 4th.”
Ray reports, “The stock got an endorsement this morning from RBC Capital’s Amit Daryanani, who expects the much-rumored ‘iPhone 5S’ to arrive in June or July, and a lower-priced iPhone, below $400 wholesale, sometime in the June quarter or ‘early Q3.'”
Read more in the full article here.