“Shares of the iPhone and iPad maker [AAPL] have surged since last week’s investor-friendly announcements, when the company added $30 billion to its stock-buyback plan, raised its dividend about 8% and declared an unusually large 7-for-1 stock split,” Steven Russolillo reports for The Wall Street Journal.
“Shares have risen 12% over the past three days, including an 8% jump the day after Apple’s quarterly report,” Russolillo reports. “Meanwhile, the Nasdaq Composite has slumped about 3% over the same time frame and is leading the broad market lower on Monday.”
“Apple is the biggest component of the tech-heavy Nasdaq,” Russolillo reports. “The question, of course, is whether Apple’s strength will be able to give the broad market a lift.”
Read more in the full article here.
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