Apple’s stock surges toward biggest 6-day rally in 9 years

“Apple Inc.’s stock is running higher at the fastest pace in over nine years, as investors continue to reap the rewards of better-than-expected earnings and an endorsement from famed value investor Warren Buffett,” Tomi Kilgore reports for Dow Jones Newswires.

“The stock shot up $2.35, or 1.3%, to $186.18 in afternoon trade Monday, to climb above Friday’s all-time intraday high of $184.25, and head toward its sixth straight gain,” Kilgore reports. “The stock got a 4.4% lift last Wednesday, after Apple reported fiscal second-quarter profit and revenue that beat expectations, and a further 3.9% boost on Friday, after Buffett said he bought 75 million more Apple shares during the first quarter.”

“A sixth straight gain would be the longest win streak since the six-session streak ended Sept. 1, 2017,” Kilgore reports. “The stock has soared 14.7% during the current streak, which would mark the biggest six-session gain since it rocketed 20.0% during the six days ended March 17, 2009… Apple shares have climbed 10.0% year to date.”

Read more in the full article here.

MacDailyNews Take: Ah, there’s nothing like sailing over a stupefyingly lowered bar!


    1. That’s nothing. Even Microsoft has a P/E of 78, so that really makes Apple shareholders look kind of stupid. As of yet, I can’t see one metric in Microsoft that makes it worth 4X Apple in value. Well, Microsoft is a software company and cloud businesses are being quite highly valued nowadays. Anyway, as far as Wall Street is concerned, Apple just doesn’t seem to have what it takes to get even a P/E equal to any of its peers.

      There’s no point in complaining and to see Apple with a P/E of 19 is something unusual. Don’t be surprised if you see a pullback for Apple stock. The talking heads are already forecasting it by the end of the week. No matter. It will be good for Apple’s share buybacks and maybe another dip for Buffett and crew.

      1. what’s the best rationale out there? Since I started invested in AAPL (2000) it’s always had a Wall Street confidence problem.
        It made sense for awhile, because of the near collapse in the late 90’s, but after the iPod, iTunes, iPhone and later iPod “proved” the company’s stalwart position, nothing changed.
        We used to joke, it’s treated like a 25 year old start-up co and it still is 10+ years later.

      2. The reason I own AAPL is because the stock is not overhyped. Still its up 2000% since 2007 and is a significant chunk of my retirement fund.
        I have diversity in my other 401k funds and whilst owning a large stock of AAPL is a risk, the company’s profits are incredibly high and it is a long term cash generator. I would rather own that stock when aiming to hold for the long term.
        Make no mistake if I think Apple is danger I will sell the stock in a flash.

  1. And it was poor Samsung phones not selling well that actually was the component drop in orders problem, not an iPhone X selling problem. What a bunch of analyst morons to get that wrong.

    I hope some small investors are throttling their necks right now.

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