Apple stock price rises above $450, boosts NASDAQ as CEO Cook visits China

“The S&P 500 was little changed on Tuesday as the Federal Reserve presidents began the first of a two-day meeting while a hedge fund’s investment in Apple lifted the Nasdaq,” Andrea Tse reports for TheStreet.

“The S&P 500 rose 0.04% to 1,685.96 while the Dow Jones Industrial Average slipped 0.01% to 15,520.59. The Nasdaq added 0.48% to 3,616.47,” Tse reports. “Apple tacked on 1.2% to close at $453.32 as David Einhorn of Greenlight Capital Management revealed that his hedge fund continues to hold an over $1 billion stake in Apple as it braces for the prospect of a global market correction.”

Tse reports, “Meanwhile, Apple CEO Tim Cook was spotted in China recently, his third such trip to the Far East, as he attempts to restart sluggish revenue in what many believe will be the iPad maker’s most important market.”

Read more in the full article here.

13 Comments

    1. I’m no economist, but I can’t see China growing forever. I mean at some point it seems like if you have too high of a population it could collapse the economy, and this would seem true of any country I suppose.

      1. If you expand the concept you’ll realize that it can apply to any living thing, something a guy called Malthus came up with a long time ago.

        The human population was pretty stable until the industrial revolution. Now it’s on this crazy expansion. While the species has the technology to control it’s reproductive rates, it certainly it lacking something to put them into practice.

        One way or another there will be a population crash, either they will do it to themselves, or it will be done to them.

    1. Apple will probably have to sell an awful lot of iPhones for that to happen. I don’t think the company is going to get any free passes like some other popular stocks.

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