AAPL closes at 4-year high

Apple Monday posted its as the company unveiled AirPort Express, a new wireless base station that, in addition to providing portable connections to the Internet, can also stream music from anywhere in a home. Apple stock jumped $1.03, or almost 4 percent, to end the day at $29.81 after CEO Steve Jobs demonstrated the company's new AirPort Express at an industry conference in San Diego, according to CBS.MarketWatch.com. Apple also said that Apple (AAPL) rose 3.7 percent after the company's top executive said that the company does not plan any mergers, though it has $5 billion cash in the bank and that new products will help the company grow. "Our business is healthy," he told CNBC in an interview.

by MacNN Staff