Apple’s stock just did something it hasn’t done since the dot-com bubble burst

Tomi Kilgore for MarketWatch:

Apple Inc.’s stock rally has finally done something that it hasn’t been able to do, in 20 failed attempts, since the demise of the dot-com bubble.

The technology giant’s stock rose 1.2% Tuesday to post a sixth straight gain. That would be the longest win streak since the six-day stretch ending April 23, which followed a nine-day win streak through April 8.

What makes the current streak different, though, is that all six of the daily gains were of more than 1%. The last time the stock rose at least 1% for six straight days was the seven-day run ended Aug. 29, 2000…

The negative side of the current win streak is that the price remains more than 8.0% below its most recent peak of $211.75, reached on May 3, and 16.1% below its Oct. 3 record close of $232.07… The good news, however, is that the current streak suggests all the things investors worried about last month may not be as bad as feared.

MacDailyNews Take: A nice little rally as people begin to tune out the hysterics and realize:

This whole China thing, at this point, is still overblown by far too many.MacDailyNews, May 17, 2019

People tend to fear the worst. It almost never happens.MacDailyNews, May 14, 2019

4 Comments

  1. I suppose it’s always good when Apple’s share price goes up. The only problem is that it will take weeks to go up in value but a mere day to lose all those gains when a negative rumor surfaces. I feel certain how in a day or so all those recent gains will be lost due to some damning news article.

    1. Today, there is a headline which can take Apple stock lower. “iPhone shipments suffer a shocking decline in Europe.” I think that’s enough to put investors into panic mode which could lead to a quick stock decline. There’s always stuff like that for Apple. Thanks, Tim.

      1. OUFFFFFF!

        That will hurt! Hopefully, with his maturing eco-system, stubborn Apple will release a 4″(.7) iPhone “à la X” this fall and will price it correctly enough for a well balanced intro into the Apple world. Damnit! A market with almost no player. Damnit!

        For that say, an entire line of 4″ iPhone with different tech options. One can dream.

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